LNG poised to grow in the Caribbean energy market: executive

Miami (Platts)--27Jan2011/554 pm EST/2254 GMT

The LNG market is poised to grow in the Caribbean region due to several factors that make it a more attractive energy fuel than traditional oil-based fuels, Rodney George, vice president of power plants for Wartsila Caribbean Inc. said Thursday.

"The stark reality is that oil is still king," George said at Platts' 11th Caribbean Energy Conference in Miami. "Natural gas projects have been elusive, though some changes are coming due to the rise in oil prices."

Oil-based fuels account for 95% of the Caribbean energy, but LNG is cheaper than low sulfur and high sulfur fuel oil, the current most widely used fuel products in the region. LNG is also a cleaner fuel than residual fuels oil, making it a more attractive investment for financial institutions.

Last week, LNG transporters, suppliers, and consumers met in Panama to explore small scale LNG projects for the Caribbean region. George said smaller projects are now preferred over large-scale ones.

In addition, LNG transporters are no longer restricted to big ships with 10,000-15,000 cu m vessels operating and more being built, George said.

Jamaica is an example of a Caribbean nation that has made a policy change to switch to LNG with plans to construct a small LNG port terminal, gas pipeline network and regasification plant. The same policy changes have been made in the French Isles, while smaller Caribbean Islands are also looking into it, George said.

In renewable energy, there has been a slow growth over the last five years with only a couple of projects done in the region, according to George, who added that he doesn't see any significant changes on that front.

--Luciano Battistini, luciano_battistini@platts.com

Read the full report here.

Source: Platts http://www.platts.com/

Conference Announcement: Global Offshore LNG Summit 2011

CONFERENCE ANNOUNCEMENT

Global Offshore LNG Summit 2011

24-25 May 2011, Dubai, U.A.E.

23 May 2011 – Pre-Conference Workshop

26 May 2011 – Post-Conference Workshop

“Mastering Know-hows in Monetization and Commercialization of Undeveloped Gas Reserves Offshore as Well as Future Outlook of Offshore LNG”

NEOEDGE is proud to announce the roll out of another premier event – GLOBAL OFFSHORE LNG SUMMIT 2011 from the 24 to 25 May 2011 in Dubai, UAE. Hearing from a panel of experts who actively deals with Floating LNG, FPSO & FSRU, you will be exposed to in-depth insights of major domestic and international markets addressing the best strategies, approaches, techniques, technology, innovations as well as the current and future market of offshore LNG. This summit will also serve as a platform for all national, international and independent companies to network and share business ideas and experiences. The LNG business is evidently changing, don’t miss out on this opportunity to learn from the best in this industry and get ahead of the game!

Key Themes and Topics:

The following key themes on Global Offshore LNG will be addressed in depth with some Case Studies:

      Present and future outlook of FLNG – how will it shape the global LNG market

      Latest updates on offshore projects and the best methods used for these developments

      Key commercial trends influencing the global offshore gas market

      Monetization and commercialization of stranded gas

      Role of government in encouraging offshore developments as well as regulatory insights for these developments

      Importance of FLNG for the present and future gas market in meeting the growing demands for power generation

      FLNG and FPSO risk mitigation

      Front End Engineering and Design (FEED), an alternative to traditional onshore LNG plants – commercially attractive and environmentally sensitive

      Learning how to turn potentials of stranded gas into reality and laying out the best practices for expansion. Learn how to overcome challenges from success stories

      Importance of strong partnership to sustain long term vision for capital intensive industries – economically and technically viable solutions to boost development of stranded gas resources across the world

      Observing financing and investment options for the growing offshore gas potentials as well as the most cost effective manner to maximizing return on investments

      Identifying future investment opportunities for oil and gas related companies internationally and how you can fully capitalize on stranded gas

      Key elements of joint-venture agreements that ensures the success of offshore exploration and production

      Identifying new technological advancements and technical issues for new technologies

Industry Spread of Target Audience

      Government Bodies & Regulatory Bodies

      National Oil Corporation / National Operators

      International Oil Corporation / International Operators

      Independent Exploration & Production Companies

      Technology Providers

      Logistic, Transportation & Infrastructure Companies

      Power Generations Company / Utilities Companies

      Consultants, Research Firms, Engineering Firms, Law Firms and Academics

      Energy Consulting Firms

      Banks/ Financers / Investors

      Service Companies

*Early Paper Submissions are WELCOME!

All submissions kindly email to: Rekha Kaur, Conference Manager

rekha@neo-edge.com; +65 6557 9187; FAX: +65 6557 9188

*Sponsorship Opportunities

If you would like to discuss any of the sponsorship opportunities or put together a custom-built sponsorship package, please contact:

Thomas Ooi, Product Development Director – Neoedge Energy Global

thomas.ooi@neo-edge.com

Phone:  +65 6557 9168

Fax:  + 65 6557 9188

EBRD could finance Lithuanian LNG terminal and power links

26.01.2011, 14:34

The European Bank for Reconstruction and Development (EBRD) would consider funding Lithuania’s plans for building electricity power links with Poland and Sweden, writes The Lithuanian Tribune

The EBRD could also provide a loan for a project of a liquefied natural gas (LNG) terminal in Klaipeda and initiate talks between Ingalina N-Plant and Nukem in attempt to solve problems of a delayed nuclear waste facility project, EBRD Vice-President Jan Fischer said on 25 January during his meeting with Prime Minister Andrius Kubilius in Vilnius.

“New possibilities were discussed. These possibilities are related to the infrastructure development – the power bridges with Poland and Sweden. The EBRD’s possibilities for financing the liquefied gas terminal were also discussed. They would be ready to talk about possibilities to finance such a terminal,” Mykolas Majauskas, an advisor to Kubilius Lithuanian Public Radio quoted him telling to reporters after the meeting.

Read the rest of the report here.

Source: Baltic Business News http://balticbusinessnews.com/

Guest Blog of the Week - SHALE GAS & UNCONVENTIONAL GAS SUMMIT 2011

FOR IMMEDIATE RELEASE

THE SHALE GAS & UNCONVENTIONAL GAS SUMMIT 2011 ANNOUNCES KEY TOPICS AND SUPPORTING MEDIA PARTNERS

January 26, 2011 – Neoedge Energy has an established reputation in organising cutting edge and well researched summits pertaining to the energy sector. The upcoming Shale Gas & Unconventional Gas Summit will be held at the Berjaya Times Square Hotel, Kuala Lumpur, Malaysia, 12-13 March 2011. According to Rekha Kaur, Energy Consultant and Conference Manager at Neoedge, “this is the only conference that will bring the most significant dialogue between government bodies, local and international oil companies, independent exploration and production companies, technology providers, service and consulting companies on the global dynamics of unconventional gas industry as well as shaping its future”.

“This summit serves to do is to bring the latest developments on the unconventional gas reserves, its market trends and trade movements, the regulatory uncertainties, and the best practices for expansion of unconventional gas”, Kaur added. “Financing as well as investing opportunities will be discussed together with the environmental impacts on the exploitation of these reserves”.

The Shale Gas and Unconventional Gas Summit 2011 in Malaysia will determine the opportunities and challenges in the industry and the leading technologies used in its growth and development in the coming years. The event will be lead by a pool of keynote speakers from industry prime movers and a panel of experts who actively deal with the unconventional gas market. Aside from this, in-depth insights of major domestic and international markets will be addressed at the 4-day summit. It will be opened with a Pre-Conference Workshop by Pre-Conference Workshop on 11 April 2011 entitled “Shale Gas & Unconventional Gas Development”, to be led by Steve Hennings, Principal Reservoir Engineer at Source Rock Engineering. A very exciting Post Conference Workshop on the last day of the summit, 14 April 2011, about “Public Engagement in the Development of Subsurface Energy Usage: Shale Gas, Underground Coal Gasification, Gas Storage, Geothermal, and Carbon Capture and Storage” will be discussed by Prof. Michael H. Stephenson, Head of Science and Energy at the British Geological Survey.

The upcoming summit has partnered with the leading media outfits dedicated to the energy industry including: Cedigaz, ECF( EnergyChinaForum), Asia Monitor, China Coal Resource, s | z Energy Intelligence Co., Ltd, OilGas.com.cn, Energy Asia, Natural Gas for Europe/Asia and Energyme.com.

Energy Edge Consultants lead by Thomas Ooi, Neoedge Director for Energy Global, has been providing business solutions through effective networking events for the energy industry and has worked with established and aspiring companies to face business and strategic issues and helped in making key decisions affecting top line growth to a number of companies. For more information about the 2011 event, please visit the Summit website at www.neo-edge.com/shalegas or you may send your enquiries to enquiry@neo-edge.com; Give us a call to reserve your place at the event: +65 6557 9185; Fax: +65 6557 9188.

Can Europe benefit from shale gas?

20 January 2011 Last updated at 17:59 GMT

By Damian Kahya

Business reporter, BBC News

In a field near Kirkham, between Preston and Blackpool, they are preparing to drill a well that many say could change our energy outlook.

Up until recently, most economists had forecast gas prices rising sharply as supplies become scarce. Production in the North Sea is already falling fast.

But the recession saw prices fall and now the process of getting gas out of rocks , shale gas as it's known, could bring huge new supplies.

The International Energy Agency (IEA) predicts that "unconventional" resources such as shale could double our gas supply worldwide.

Gas for 100 years

At the well in Lancashire, they are preparing to see if the right conditions exist in the UK to get gas from shale.

Read the rest of the report here.

Source: BBC News http://www.bbc.co.uk/

Thailand's first LNG Terminal for June

[19 Jan 2011, Jane Dawson, gasworld.com]

Industry murmurs indicate that Thailand is set to complete the country’s first LNG Terminal by Summer 2011.

Kurujit Nakornthap, Deputy Permanent Secretary at the Energy Ministry, recently revealed plans to enable demands to be met before peak period. Thailand is to purchase approximately 1m tons of LNG for a period of two to three years.

While speaking to press in Batam Indonesia, Nakornthap conceded that Thailand’s gas demand is growing at a rate of 7% each year. He added, “We will use the terminal for security of supply and meet peak demand for electricity. We may buy spot LNG in the market as it is cheap.”

Read the rest of the report here.

Source: Gasworld http://www.gasworld.com/

2nd Annual Africa Gas & LNG Summit 2011

Mastering the New Dynamics of Africa Gas & LNG Market Trends and Trade Movements with Relations to the Global Gas Market Today, an Up-to-Date Analysis.

“The only conference in Africa that comprehensively addresses all the critical developments with both gas and LNG markets – an interactive and significant dialogue between government bodies, regulators and decision makers!”

Neoedge is proud to announce the return of Africa Gas & LNG Summit for the year 2011. This summit comes after a successful roll out of Neoedge’s premier event in the year 2010 and has been one of Neoedge’s most sought after event. This year’s summit will feature expert speakers from the African and global gas & LNG market, exploring in-depth insights and analysis of the best strategies, approaches, opportunities, techniques and innovation to get you ahead of the game!

What was forecasted 2 years ago has changed significantly in the global dynamics of gas & LNG. Where does Africa fare in the LNG market today? Will Africa remain as the top players in the gas & LNG industry or how have the market changed since then? Has the emergence of unconventional gas in the African and global market changed how market trends and trade movements have been going these past years and how will it effect the future market? How do you promote the use of natural gas & encourage buyers to purchase these gases? What are the trends to distribute gas domestically and internationally? What are the updates in the African gas & LNG projects in particular Algeria, Nigeria, Angola as well as the Saharan-African projects? What is the role of the government in developing LNG countries? What are the pricing issues related to domestic and regional market, how do we go forward? What are the successes and challenges faced in the gas & LNG industry development? What do we look out for when assessing risk in new projects and what are the prospects for gas utilization and gas commercialisations? What are the considerations that need to be made when constructing key infrastructure projects for gas development to reach more revenue and more relations to mutually active companies? How do we manage communities and environmental issues arising from exploitation? What are the commercial terms & issues when it comes to gas exploration and production, and what to do and not do? What is the difference in terms of pricing and infrastructure when it comes to development onshore & offshore, what are the advantages & disadvantages? How’s best to negotiate successful gas production, supply, transportation and storage contracts? What are the issues faced in the gas sales agreement as well as the commercial, technical & security aspect of gas development? What are the key elements in project financing, how to evaluate potential returns? How about financing stranded gas reserves, what are the implications and risk of such financing? What are the best strategies in dealing with complications relating to spot and short term LNG trading? Will long term contracts further prevail in the market, or will spot trade get a dominant role? What is the importance of Force Majeure? How will Gas-To-Liquid technology influence the LNG market in the future? What are the new technological advancements and technical issues for new technologies? Where will Africa stand in the global and domestic gas & LNG market in the next 5 years?

Mark your calendar on the 20-21 July 2011 and come join us in Johannesburg to be amongst experts and like-minded people in the gas & LNG industry in which networking, sharing of business of ideas and exchanging of business relations will become inevitable. Don’t miss out on this opportunity to get ahead of your competition and be apart of this most updated and exciting Africa Gas & LNG Summit!

To secure your seats or for more information, call us today at +65 6557 9183 or email us at rilla.eas@neo-edge.com.

Global Offshore LNG Summit 2011

“Mastering Know-hows in Monetization and Commercialization of Undeveloped Gas Reserves Offshore as Well as Future Outlook of Offshore LNG”

“The only conference that brings the most significant dialogue between government bodies, national & international oil companies, independent exploration & production companies, technology providers, service & consulting companies on the global dynamics of offshore LNG and shaping its future”

What will be the future of global LNG supplies to the growing demand for energy needs? Will the global market face a shortage of gas once existing onshore gas reserves are exhausted and fully exploited? It has been proven that over 60% of the world gas reserves are stranded and not fully exploited because of scepticism and concerns on return of investments. With the revolution of offshore technologies, gas shortage will be a problem of the past. Offshore activities in terms of floating natural gas liquefaction and regasifications vessel will offer great business opportunities to global oil and gas organizations. Building on the strategic advantage of offshore exploration and production, many countries are now opting for FLNG as a way to get ahead of the game as well as a way to expand business ventures and opportunities.

What this summit serves to do is to bring you the latest developments, market trends & trade movements, clarifies regulatory uncertainties, best practices for expansion of offshore LNG, the cost and return of investing in offshore LNG, financing and investing opportunities & outlook, what are the environmental implications of exploiting these offshore reserves, what are the opportunities and challenges faced during this process, the importance of strategic partnership as well as mergers & acquisitions in the growth and development of offshore LNG, the importance of offshore LNG for sustainable power generations, the application of onshore technologies with offshore technologies as well as the leading technologies to accelerate the growth of offshore LNG.

NEOEDGE is proud to announce the roll out of another premier event – GLOBAL OFFSHORE LNG SUMMIT 2011 from the 24 to 25 May 2011 in Dubai, UAE. Hearing from a panel of experts who actively deals with Floating LNG, FPSO & FSRU, you will be exposed to in-depth insights of major domestic and international markets addressing the best strategies, approaches, techniques, technology, innovations as well as the current and future market of offshore LNG. This summit will also serve as a platform for all national, international and independent companies to network and share business ideas and experiences. The LNG business is evidently changing, don’t miss out on this opportunity to learn from the best in this industry and get ahead of the game!

To secure your seats or for more information, call us today at +65 6557 9185 or email us at eugene@neo-edge.com.

Shale Gas & Unconventional Gas Summit 2011

Conquering the Potentials of Unconventional Gas by Mastering the use of Production Technology as well as Ensuring Return on Investment

“The only conference that brings the most significant dialogue between government bodies, national & international oil companies, independent exploration & production companies, technology providers, service & consulting companies on the global dynamics of unconventional gas industry and shaping its future”

Has the emergence of unconventional gases changed the gas market today? What used to be a global dominance in the gas industry has now taken a drastic change thanks to the breakthrough in unconventional gas across America. Does it stop there? Many discoveries and developments are now taking place in Asia, Europe, Middle East and selected African countries, whether its shale gas, coalbed methane, tight gas or gas hydrates. China who is one of the biggest importers of conventional gas now realizes the huge potentials of CBM & Shale Gas. Will China continue to rely on conventional gases, or will China’s future developments of this unconventional gas reserves threaten the very existence of conventional gases? How will India fare in the unconventional gas world given its recent acquisition of shale gas in the US? Will Indonesia go forth with shale gas exploitation to meet the growing energy demand? What should Petronas observe for investment and funding for the growth and expansion of shale gas & CBM in Australia? Will shale gas transform UK’s energy policy? Will concerns of environmental damage hinder the production and development of shale gas in Europe? What are the potentials for unconventional gas in Africa & Middle East and what are the main challenges faced in these developments?

What this summit serves to do is to bring you the latest developments, market trends & trade movements, clarifies regulatory uncertainties, educate you about the best practices for expansion of unconventional gas, what are the cost and return of investments of such exploitations, financing and investing opportunities & outlook, what are the environmental implications of exploiting these reserves, what are the opportunities and challenges faced, the importance of strategic partnership as well as mergers & acquisitions in the growth and development of unconventional gas reserves, the effects on gas pricing, the use of unconventional gas for power generations, the impact of unconventional gas on LNG, what are the leading technologies to accelerate the growth of shale gas & CBM.

Hearing from a panel of experts who actively deals with the unconventional gas market, you will be exposed to in-depth insights of major domestic and international markets addressing the best strategies, approaches, techniques, innovations as well as the current and future market of unconventional gas in spite of the recent economic conditions. This summit will also serve as a platform for all national, international and independent companies to network and share business ideas and experiences.

To secure your seats or for more information, call us today at +65 6557 9185 or email us at eugene@neo-edge.com.

IFRS for Oil & Gas: Application of Key Standards & Update

The commercial and operational practices of the oil and gas industry pose unique challenges to accountants operating under the IFRS framework. These challenges include accounting for exploration and evaluation activities, joint venture arrangements and production sharing agreements, decommissioning costs, use of hedge accounting and the disclosure of reserves information.

NEOEDGE is bringing to you another of our premier course “IFRS for Oil & Gas, Application of Key Standards & Update” to be held in Singapore from 04 to 07 April 2011.

It will be led by world class IFRS expert, Mr Alan Mayo, who has 25 years professional experience and co-founded the client training business of PwC London.

This workshop focuses on those areas of most concern to the oil and gas industry. It highlights the approach to take when setting accounting policies in the absence of specific guidance within IFRS, looks at the issues in applying standards to oil and gas transactions and the accounting choices available to companies in the sector.

IFRS is constantly evolving, and the course is kept up to date with the latest Standards and Interpretations and includes sections that look at proposed and forthcoming developments.

Seats are limited! To secure your seats or for more information, call us today at +65 6557 9183 or email us at rilla.eas@neo-edge.com.

Argentina, Qatar To Consider Building Argentine Natural-Gas Terminal

BUENOS AIRES -(Dow Jones)- Argentina signed an agreement with Qatar on Tuesday to look into building a third liquefied natural-gas terminal in the South American country, the Argentine planning ministry said.

The terminal would facilitate the import of up to 20 million cubic meters LNG from Qatar each day, the ministry said in a press release.

The agreement came during Argentine President Cristina Fernandez's visit this week to Qatar, Kuwait and Turkey to boost investment and cooperation. On Tuesday, she announced the opening of a new Argentine embassy in Qatar.

Argentina is looking to expand its LNG port capacity to alleviate chronic natural-gas shortages. Every winter the government rations deliveries to hundreds of industrial companies as demand for gas outweighs its supply.

In September, Excelerate Energy, a Texas-based liquefied natural-gas marketer, said it would build Argentina's second LNG facility north of the capital Buenos Aires, allowing the import of an additional 500 million cubic feet of natural gas.

Read the rest of the report here.

Source: NASDAQ http://www.nasdaq.com/

LNG Is ‘Best Alternative’ for Paring Ship Pollution, DNV Says

January 17, 2011, 9:31 PM EST

By Kyunghee Park

Jan. 18 (Bloomberg) -- Liquefied natural gas may beat out nuclear and fuel-cell technology as shipping lines look for cleaner and cheaper alternatives to traditional heavy- fuel oil, said Det Norske Veritas.

“LNG is the best alternative we have from an environmental and financial point of view,” Remi Eriksen, chief operating officer at ship inspector Det Norske Veritas, said yesterday at a conference in Singapore. Nuclear power will remain socially unacceptable, while fuel-cell technology isn’t yet advanced enough, he said.

Shipbuilders have begun developing LNG engines as the International Maritime Organization draws up regulations to lower carbon and sulfur emissions to pare pollution. The shipping industry emits about 3 percent of the world’s carbon each year, equivalent to 1 billion tons, according to Thor Jorgen Guttormsen, president of the Norwegian Shipowners’ Association.

LNG vessels would likely cost about 10 percent to 15 percent more to build than traditional ships, said Eriksen. In the long run, there would be cost-savings because LNG is cheaper than heavy fuel, he said. Heavy-fuel oil is the sludge left over after crude oil is refined into more valuable products such as gasoline and jet fuel.

There are now about 23 ferries and offshore support vessels that run on gas engines in Norway, Eriksen said.

Read the rest of the report here.

Source: Bloomberg Business Week http://www.businessweek.com/

China's L.N.G. firms eye Iran, and beyond

Monday, January 17, 2011

By Chen Aizhu

Reuters

BEIJING: China may have the technical capability to build a natural gas liquefaction plant within five years, potentially opening the door to vast reserves in Iran where sanctions have kept away Western firms.

A breakthrough for Chinese firms would allow them to tap Iran’s vast gas reserves, the largest in the world outside Russia, as long as they are prepared to brave sanctions that have scared off Western oil majors.

Developing the expertise to super-chill gas for shipment in tankers would also help Chinese firms secure more big ticket international engineering contracts, similar to the $6 billion Cuban refinery expansion and L.N.G. terminal deal scooped by China National Petroleum Corp late last year.

Firms in China, the world’s top energy consumer, already have stakes in major natural gas projects from Curtis Island in Australia to South Texas in the United States where they could deploy home-grown technology.

Two of the country’s trio of oil majors – CNPC and CNOOC – are deploying resources to hone liquefaction technology for commercial scale plants, industry sources close to the firms said.

Read more of the report here.

 

Source: The Daily Star  http://www.dailystar.com.lb/

Jamaica committed to developing LNG as energy source: adviser to PM

Austin, Texas (Platts)--13Jan2011/632 pm EST/2332 GMT

The Jamaican government is committed to developing LNG as an energy source on the island, a special adviser to Jamaican Prime Minister Bruce Golding said Thursday.

"We are confident that LNG, done right, is a viable choice and that is what we are confident of delivering in a timely manner," said Chris Zacca, chairman of the government's new LNG steering committee.

Zacca was responding to reports that a proposed LNG project could face delays in the wake of an investigation -- launched in 2010 -- into alleged bid rigging in the tender to install a floating regasification unit off the country's southern coast.

Zacca dismissed concerns the project could be delayed by as much as two years following upheaval amongst the project team.

In December, the government appointed a steering committee to advise Golding on project implementation.

Read more of the report here.

Source: Platts http://www.platts.com/

China's CNPC, Qatar Petroleum planning JV in China

Thu Jan 13, 2011 10:30am GMT

BEIJING Jan 13 (Reuters) - China and Qatar will strengthen cooperation in the oil and gas industries and the top oil companies of the two countries plan joint venture projects in China, the government said on Thursday.

During a meeting between visiting Qatar Oil Minister Abdullah al-Attiyah and Wang Yong, the head of state-owned Assets Supervision and Administration Commission (SASAC), the two sides vowed more communication and joint development.

"Both sides talked about planned joint venture projects in China between China National Petroleum Corp (CNPC) and Qatar Petroleum (QP)," the SASAC said on its website www.sasac.gov.cn.

It didn't elaborate on the projects.

SASAC is both a regulator and shareholder of some Chinese state giants.

In May, Royal Dutch Shell (RDSa.L: Quote), CNPC and QP signed a 30-year deal for gas exploration and production in Qatar, the holder of the world's third-largest gas reserves.

Shell, as operator, will hold a 75 percent equity stake, with CNPC holding the remainder.

Attiyah said at that time that Qatar was in talks over the supply of 7 million tonnes of liquefied natural gas to China and four million tonnes of LNG to India. [ID:nLDE64F0HG]

Read more of the report here.

Source: Reuters http://af.reuters.com/

Production Sharing Contracts (PSC) Master Class



NEOEDGE is bringing to you another of our premier course “Production Sharing Contracts (PSC) Master Class” to be held in 2 locations:

-          Dubai, United Arab Emirates from 07 to 10 March 2011

-          Kuala Lumpur, Malaysia from 14 to 17 March 2011

                                                       

Effective training in today's fast developing petroleum market is essential if relevant executives in both the public and private sectors are to create and implement the optimum regulatory and commercial environment for revenue and profit maximisation. Nowhere is this more important than in the development and negotiation of Production Sharing Contracts (PSCs), a critical part of global petroleum exploration, production and commercialization.

The purpose of a PSC is to facilitate the finding and commercialisation of deposits of oil and gas. However, production sharing is not the only regime used for that purpose, nor, within a production sharing regime, is the PSC the only instrument used; and, as with all such regimes, production sharing, and each individual PSC, exists within a historical, geopolitical and legal framework, and a global market, that informs its principles and its detailed implementation. It is imperative for relevant executives in both government and private sectors to understand the ever-changing impact of these forces on the PSC, and the PSC's position and role among the many key factors needed for successful oil and gas commercialisation.

Ably led by David Moroney, a partner in the London office of Fulbright & Jaworski International LLP, one of the world's leading energy law firms.

Seats are limited! To secure your seats or for more information, call us today at +65 6557 9183 or email us at rilla.eas@neo-edge.com.

 

Update: Global Gas & LNG Summit 2011 - ADDITIONAL NEW SPEAKERS

We are pleased to welcome 2 new speakers for the Global Gas & LNG Summit 2011. They are:

• Dr Jennifer Coolidge, Executive Director, CMX Caspian and Gulf Consultants Ltd
• Fabrice Mosteron Dupin, Global Gas Flaring Reduction Advisor, World Bank
 

To secure your seats or for more information, call us today at +65 6557 9183 or email us at rilla.eas@neo-edge.com.

Turkmenistan Gas Export Diversification Nearly Complete

Turkmenistan has practically completed its project to diversify its gas exports, Turkmenistan President Gurbanguly Berdymukhamedov announced Monday during a government meeting.

"With the launch of the Turkmenistan-Uzbekistan-Kazakhstan-China and Turkmenistan-Iran pipelines, and having laid the ground work for the Turkmenistan-Afghanistan-Pakistan-India pipeline, we are now ready to supply to gas to European countries as well", he said calling on officials in the fuel and energy sector "to solve this issue this year".

"We need to build LNG plants and gas refineries", the president continued, "Transporting LNG does not require laying a pipeline and so it is easier to export in various direction".

Source: Copyright 2010, Oil and Gas Information Agency. All rights reserved.

European Spotlight: Russia invites Japanese firms to participate in the LNG project

Monday, January 10, 2011, 10:12 [IST]

Russian Prime Minister Vladimir Putin has invited Japanese firms-Mitsui and Mitsubishi to participate in the liquefied gas field project on the Russia's Yamal Peninsula on the Arctic Ocean. Russia plans to complete feasibility studies in the first half of 2011 and start LNG production around 2020. The project which is estimated between 10 trillion yen to 20 trillion yen would be the nation's biggest LNG endeavor and will be led by Russia's state-run Gazprom, the world's largest gas supplier. The investment by Mitsubishi and Mitsui would be capped at 10 percent of the project's costs.

The Yamal Peninsula project would be the largest LNG project Japanese firms have participated in to date. The peninsula is believed to have gas reserves of more than 38 trillion cubic meters. The Russian government had announced a preferential tax package for overseas participants in the country's natural gas development projects in October 2010 to attract foreign investments.

Source: OneIndia http://money.oneindia.in/news/2011/01/10/russia-invites-japanese-firms-participat.html

Middle Eastern Spotlight: Barzan Gas Project Launched

By Pratap John

Qatar has launched QR31bn Barzan Gas, a key project that will significantly meet the rising domestic gas demand.

Qatar Petroleum and ExxonMobil Barzan, a subsidiary of ExxonMobil Corporation, yesterday signed a Joint Venture Agreement (JVA) and a Development and Fiscal Agreement (DFA) for the Barzan Gas Project, which will supply about 1.4bn cu ft of gas a day, mainly to utilities and industrial units.

QP will have a 93% stake with ExxonMobil holding the remainder in the project, whose first gas flow is planned for 2014.

The project will be completed in two phases; Train 1 will come onstream in 2014 and Train 2 in 2015.

To be located at Ras Laffan, Barzan Project will be operated by RasGas. It will produce and process gas from Qatar’s North Field and supply sales gas to power stations and industries, ethane to the petrochemicals industry in Qatar, and associated liquid hydrocarbons for sale in the local and international markets.

The engineering, procurement and construction (EPC) contract for the project’s onshore segment has been awarded to Japan’s JGC Corporation while the offshore works have been given to South Korea’s Hyundai Heavy Industries.

Read more of the report here.

Source: Gulf Times http://www.gulf-times.com/