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Turkmenistan unveils US$1.7 billion gas-to-liquids plant
June 29, 2019
Source: CNA

Turkmenistan unveils US$1.7 billion gas-to-liquids plant

Central Asian country, Turkmenistan, yesterday, unveiled the US$1.7 billion gas-to-liquids (GTL) plant. The largest GTL plant in Central Asia, it will process 1.785 billion cubic metres of natural gas every year, yielding 600,000 tonnes of gasoline a year among other liquid fuels. Built by Turkey's Rönesans and Japan's Kawasaki Heavy Industries, the GTL plant will help Turkmenistan monetize on the world's fourth-largest natural gas reserves.

Attacked oil tankers to be examined off UAE coast
June 17, 2019
Source: Reuters

Attacked oil tankers to be examined off UAE coast

Operators of the two oil tankers attacked in the Gulf of Oman last week are undergoing examination off the UAE coast. The oil tanker explosion on Thursday escalated tensions between Washington and Iran, with the former blaming the Persian country for the assault. Once the authorities in Sharjah conclude security checks, Japanese tanker Kokuka Courageous will undergo assessment, post which ship-to-ship transfer of its methanol cargo would begin.

Inpex inks HOA with Indonesia for $20 Billion Indonesian LNG Project
June 17, 2019
Source: Bloomberg

Inpex inks HOA with Indonesia for $20 Billion Indonesian LNG Project

Japanese oil firm, Inpex Corp. has reached an agreement with Indonesia for the $20 billion Abadi liquefied natural gas project. In an interaction with reporters at a G-20 energy and environment meeting in Japan, Inpex President informed that the heads of agreement contains a contract extension for Inpex to operate the Masela field until 2055. Inpex holds a 65% stake in Abadi field where Royal Dutch Shell is partner.

Toshiba sells its Freeport stakes to Total for $815mn
June 3, 2019
Source: World Oil

Toshiba sells its Freeport stakes to Total for $815mn

Toshiba Corp. will sell its over 20-year liquefaction rights at the Freeport LNG project to Total. The company will pay $815 million to the French major and is expecting that the deal will be finalized by March 2020. This acquisition is in line with Total's plan to become one of the world’s biggest LNG players in the future. Total presently is the second-largest private global LNG player.

Mitsibushi plans to offer $1.4 billion help to Chiyoda
May 6, 2019

Mitsibushi plans to offer $1.4 billion help to Chiyoda

One of the world's leading LNG plant builders, Chiyoda Corp has been hit by a hurricane at its Cameron LNG project in Louisiana. This has made the Japanese trading house Mitsubishi Corp and MUFG Bank decide to help rescue the plant engineering company. The firms will assist Chiyoda with a $1.4 billion lifeline. Mitsubishi has 33.4% stakes in Chiyoda and has saved the company twice in the past.

Mitsubishi to receive £400 mn for decommissioning relief
April 8, 2019
Source: Energy Voice

Mitsubishi to receive £400 mn for decommissioning relief

UK Government has decided to pay up to £400 million to Mitsubishi for oil and gas decommissioning relief. The amount will go to Mitsubishi's subsidiaries MCX Osprey and MCX Dunlin. The pay-out will assist the shutdown of the Greater Dunlin Area. It was in 2015 that Dunlin's decommission was decided and its 70% liability was transferred to Mitsubishi. The payment will be made through Decommissioning Relief Deeds.

US likely to let some countries continue with Iranian oil imports
April 5, 2019

US likely to let some countries continue with Iranian oil imports

After the sanction waivers expire in May, US is likely to renew them for a small group of countries. The US based analysts Eurasia Group has informed that the five countries- India, China, South Korea, Japan and Turkey among the group of eight will continue importing Iranian crude and condensate without facing penalties. This will lead to the failure of US attempts to reduce Iranian oil imports to zero.

Shizuoka Gas inks LNG supply deal with Clean Energy
Jan. 31, 2019
Source: Reuters

Shizuoka Gas inks LNG supply deal with Clean Energy

China’s Clean Energy has inked an LNG supply deal with Japanese city gas supplier, Shizuoka Gas. Under the supply deal, Shizuoka Gas will transport 1600 metric tonnes of LNG annually for the next three years to Clean Energy. LNG transportation will be carried out from Shizuoka’s Shimizu terminal through ISO tank containers. Currently, Shizuoka Gas is the only firm capable of re-exporting fuel by re-loading LNG onto ships.

CNOOC resells floating LNG cargo to Japan
Jan. 22, 2019

CNOOC resells floating LNG cargo to Japan

According to the sources, China National Oil Corp (CNOOC) has sold a LNG cargo which is floating offshore South Korea. This cargo has been sold for the second time pointing out the drop in winter gas demand in China. Unlike 2017/18 winter, when China was desperate to keep up with the super-chilled fuel demand, this move signifies that the nation has overcome those times.

Gazprom signs MoU with Itochu
Dec. 15, 2018
Source: World Oil

Gazprom signs MoU with Itochu

Russian gas giant, Gazprom has signed a Memorandum of Understanding (MoU) with Japan’s Itochu Corporation on the Baltic LNG project. Chairman of the Gazprom Management Committee and CEO, Itochu Corporation held a working meeting in St. Petersburg. With this agreement, Gazprom and Itochu have confirmed their interest in potential collaboration in the framework of the project.

Total awards Inpex its stakes in Ichthys for $1.6 billion
Dec. 14, 2018
Source: Reuters

Total awards Inpex its stakes in Ichthys for $1.6 billion

Total has decided to sell 4% stakes in its Australian Ichthys LNG project to Inpex. This procurement will be worth $1.6 billion following cost overruns. Total E&P President said “This transaction is part of our constant portfolio review to optimize our capital allocation,” He has also given assurance that Total will be committed to its Australian project and won’t give up its 26% stakes in the same.

Oil prices slump continues
Nov. 15, 2018
Source: Reuters

Oil prices slump continues

Oil prices today declined, stressed by supply rise in a market where consumption is expectedly slow. Benchmark Brent crude oil futures were trading 0.3% lower at $65.90 per barrel. US WTI crude futures were at $55.95, down by 0.5% from their last close. Data released this week demonstrated economic contraction in Japan and Germany in the third quarter.

MODEC to provide Eni with FPSO
Oct. 13, 2018
Source: Compelo

MODEC to provide Eni with FPSO

Eni Mexico has handed Japan’s MODEC a Letter of Intent for supplying, chartering and operating an FPSO vessel for its Area 1 project in Mexico. MODEC will carry out the engineering, procurement, construction, mobilization, installation and operation of the FPSO at the Area 1 project. First oil production by FPSO is scheduled in 2021.

Cosmo Oil finds substitute for Iran oil
Sept. 25, 2018

Cosmo Oil finds substitute for Iran oil

Japanese downstream major, Cosmo Oil has found new suppliers to substitute Iranian oil imports at the head of the looming US sanctions on Iran in November. Oil supply to Cosmo will come from Saudi Arabia, UAE and Kuwait to cover for its 10,000 barrels per day (bpd) shortfall from Iran. Japan’s refinery association last week stated that the country terminated oil imports from Iran in mid-September.

Hoegh to supply FSRU to Australian Industrial Energy
Aug. 20, 2018

Hoegh to supply FSRU to Australian Industrial Energy

Hoegh LNG of Norway has won a tender to supply a floating LNG terminal to a consortium for Australia's east coast. The Australian Industrial Energy is looking to import LNG to the eastern coast from 2020. On Monday, the consortium informed that it has signed an agreement after which it can rightfully rent a floating storage and regasification units (FSRU) of Hoegh LNG. Australian Industrial Energy group includes Japan's JERA and Marubeni Corp.

ADNOC LNG strikes deal with JERA
Aug. 10, 2018
Source: NEWSBASE

ADNOC LNG strikes deal with JERA

Japanese joint venture, JERA has entered into a Memorandum of Agreement with ADNOC LNG for the purchase of upto eight cargoes of LNG. The deal term is for 3 years, ending in 2021. JERA said in a statement that the deal will help the venture to respond to LNG demand fluctuations. The Japanse JV has in the recent times struck a lot of deals for LNG purchase.

Fuji Oil deploys new Honeywell UOP catalyst
July 31, 2018

Fuji Oil deploys new Honeywell UOP catalyst

Japanese refiner, Fuji Oil has started using the new R-364 Platforming™ catalyst for the production of more aromatics at Sodegaura Refinery in Japan. The high-activity catalyst, developed by Honeywell UOP, has been designed to boost the production of a CCR Platforming unit by almost 10%. Fuji Oil and other refiners in Japan have moved on to manufacturing higher value aromatics, which have a greater value than motor fuels.

Japan’s $40 billion project revived
July 30, 2018

Japan’s $40 billion project revived

Japanese oil major, Inpex Corp informed on Monday that its long-delayed project of $40 billion is back on track. The company has started production of gas in its northern Australian Ichthys field. Reportedly, Inpex will start the export from September end and the project will take approximately three years to reach its full capacity. It will be Japan’s first biggest and major energy development operation.

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