08 декабря 2017, 23:39

Eni Meets $4.7 Billion Financial Close for Coral South FLNG

Eni (E) operates at the Coral South gas resource through its unit, Eni East Africa.

08 ноября 2017, 15:26

Joint Press Release by the United States of America and the Republic of Korea

President Donald J. Trump’s State Visit to the Republic of Korea On November 7-8, President Donald J. Trump made the first state visit to the Republic of Korea by a United States President in 25 years.  The President participated in an official state dinner at the Cheongwadae and his third bilateral summit with Republic of Korea President Moon Jae-in, addressed the National Assembly, and met with American and South Korean military service members.  President Trump laid a wreath at the National Cemetery honoring those South Koreans who gave their lives to defend and support their country during the Korean War and reaffirmed the unwavering commitment of the United States to the Republic of Korea’s defense.  President Trump highlighted that the United States-Republic of Korea Alliance, built upon mutual trust and shared values of freedom, democracy, human rights, and the rule of law, remains a linchpin for security, stability, and prosperity in the Indo-Pacific.  The two leaders stressed the Alliance had matured over more than six decades into a multi-pillared relationship including security cooperation, economic partnership, people-to-people ties, and global leadership.   President Trump and President Moon pledged to maintain close consultation, coordination, and cooperation on North Korea policy.  The two presidents urged North Korea to abandon its illicit weapons of mass destruction and ballistic missile programs, which deepen its diplomatic isolation and economic hardship.  The two presidents affirmed their full support and commitment to the coordinated global pressure to bring North Korea back to authentic and credible denuclearization talks. The two leaders noted that North Korea now poses a threat to the entire world and committed to faithfully and thoroughly implement all relevant U.N. Security Council Resolutions, including 2371 and 2375. President Trump welcomed President Moon’s recent efforts to harmonize sanctions designations by the Republic of Korea and the United States.  President Trump emphasized that his top priority is protecting the United States and our allies against North Korean aggression, and remains prepared to use the full range of United States military capabilities, both nuclear and conventional, to defend against the growing threat from North Korea. President Trump and President Moon committed on the need for China to exert its unique leverage to make a diplomatic solution possible.  President Trump and President Moon discussed North Korea’s malicious cyber activities and emphasized efforts to enhance cyber cooperation, including through the United States-Republic of Korea Cyber Dialogue. The two presidents condemned North Korea’s egregious human rights record and committed to continue to compelling North Korea to respect its people’s human rights, including through cooperation with international organizations. President Trump and President Moon reaffirmed that the United States and Republic of Korea stand ready to support a brighter future for North Korea if it chooses the right path.                                     Defense Measures and Foreign Military Sales:  In response to the North Korea threat, President Trump and President Moon decided to further strengthen the United States-Republic of Korea Alliance defensive posture and capabilities through the acquisition of advanced military equipment and the enhanced deployment of United States strategic military assets in and around the Republic on a rotational basis. ● President Trump and President Moon acknowledged the desire for equitable cost sharing of United States military forces stationed in the Republic of Korea and noted the more than $9 billion contribution from the Republic of Korea to the Camp Humphreys expansion. The two leaders intend to continue to strengthen the Alliance’s combined defense posture and capabilities, including through defense cost-sharing measures in the upcoming Special Measures Agreement discussions. ● President Trump acknowledged the Republic of Korea’s adoption of its Revised Missile Guidelines 2017 to remove payload restrictions on Republic of Korea ballistic missiles to combat the nature of the North Korean threat. President Trump highlighted the successful Alliance deployment of the Terminal High Altitude Area Defense missile defense system. ● President Trump and President Moon reiterated their intent to boost trilateral security cooperation with Japan for enhanced deterrence and defense against North Korea’s nuclear and missile threats. The two leaders committed to continue trilateral exercises on missile warning and anti-submarine warfare, as well as to expand information sharing and to enhance joint response capabilities against the North Korean threat. President Trump and President Moon noted that in an effort to modernize the military, and in part to meet the Alliance’s operational requirements, the Republic of Korea made more than $13 billion in military purchases over the past three years from the United States through the Foreign Military Sales and Direct Commercial Sales systems.  ● President Moon shared his plan to substantially increase defense spending by 2022, which will help cover the Republic of Korea’s financial commitments made by past administrations to major United States origin programs such as F-35A Joint Strike Fighter, KF-16 Fighter Jets upgrade, Patriot PAC-3 ballistic missile defense upgrade, AH-64E Apache heavy attack helicopter, Global Hawk high-altitude UAV, and AEGIS combat systems. President Trump reaffirmed his support for the Republic of Korea’s acquisition and development of highly advanced military assets, including advanced reconnaissance systems. Economics, Trade, and Investment:  President Trump and President Moon affirmed the importance of strengthening United States-Republic of Korea economic, trade, and investment ties.  President Trump underscored the need to rebalance KORUS FTA in order to reduce the substantial United States trade deficit with the Republic of Korea and to achieve more expanded, balanced and reciprocal trade.  President Trump and President Moon instructed their trade officials to conclude an improved agreement expeditiously. ● During the President’s visit to the Republic of Korea, at the Republic of Korea Chamber of Commerce Business Roundtable on November 8, 42 ROK companies announced their intent to implement 64 projects in the United States over the next four years (2017-2021) valued at $17.3 billion.  Twenty-four South Korean companies announced planned purchases of U.S. goods and services valued at $57.5 billion, to include $22.8 billion in energy purchases. ● Republic of Korea foreign direct investment (FDI) in the United States has nearly doubled since 2011 from $19.7 billion to $38.8 billion in 2016 – making the ROK the second largest Asian source of foreign direct investment into the United States.  ROK firms support nearly 52,000 U.S. jobs. According to the announcements made by Korean firms concerned, major recent investments by South Korean firms include: $3.1 billion by Lotte Chemical to build a petrochemical facility in Louisiana; $800 million by Hankook Tire to build a new factory in Clarksville, Tennessee, employing 1,800 people; and $370 million by SK in Texas in the manufacturing of ethylene acrylic acid. ● Additional planned investments announced recently include $300 million by LG Electronics for a new facility in New Jersey by 2019, and new investments in major research and development facilities by Samsung and others in California and expansion of Samsung’s semiconductor fabrication facility in Austin, Texas, making it the largest single foreign investment in the United States.  Global Partnership:  President Trump and President Moon affirmed that United States-Republic of Korea cooperation on global issues is an indispensable and expanding aspect of our Alliance and decided to advance future-oriented cooperation through high-level consultations in the areas of energy, science and technology, space, environment, and health. They announced a new Partnership in Energy Security, Health Security, and Women’s Economic Empowerment.   ● The United States and Republic of Korea support universal access to affordable and reliable energy, which supports job creation, enhances security, and promotes economic growth. The Korea Gas Corp. (KOGAS) signed a memorandum of understanding (MOU) with the Alaska Gasline Development Corp. that establishes a cooperative framework for the development of Alaska’s natural gas infrastructure.  KOGAS also signed an MOU with Lake Charles LNG Export Company, LLC, to review a potential liquefaction project. The Republic of Korea’s SK Group signed a long-term agreement with Continental Resources to develop Oklahoma’s unconventional hydrocarbon fields that could lead to new exports of American energy. ● Both countries committed to continue demonstrating leadership within the Global Health Security Agenda and each country recognized the benefits of combining efforts to combat the spread of infectious diseases, conduct joint research, and share information and best practices.  ● The two countries committed to working together to support the important economic role that women play in their societies, including launching an initiative to promote women’s entrepreneurship and women in STEM, both domestically and in developing countries. ● President Trump and President Moon decided to convene a multilateral, non-military regional dialogue on disaster management planning and support efforts in U.N. peacekeeping operations, the refugee crisis and other humanitarian crises, Afghanistan, Syria, counterpiracy, and counter terrorism and violent extremism. ● President Trump congratulated President Moon on the upcoming February 2018 Winter Olympics in PyeongChang, and highlighted United States support for a successful Olympic Games. ● President Trump expressed his appreciation for President Moon's hospitality during his visit to the Republic of Korea.  The two leaders stated that they look forward to meeting again to continue close coordination on North Korea and other important bilateral issues at a mutually convenient time.

03 июля 2017, 15:23

Shell's Prelude FLNG Facility Leaves Port for Australia

Royal Dutch Shell PLC's flagship project, Prelude floating liquefied natural gas (FLNG) facility, finally set sail from the South Korean shipyard toward the north-west Australia.

27 июня 2017, 00:25

Largest Coal Consuming Countries Increase Appetite In First 5 Months Of 2017

Coal mining in the United States, India, and China – the world’s three biggest coal consumers – has increased in 2017, reversing a downward trend in the use of carbon-heavy fossil fuel in recent years, according to the Associated Press. Coal production through May is up by 6 percent, or 121 million tons for the trio year-over-year. The most dramatic change came in the United States, which saw a 19 percent rise in mining over the first five months of 2017, figures from the U.S. Department of Energy show. President Donald Trump…

26 июня 2017, 19:20

London’s Fund Managers Soften Opposition To Saudi Aramco IPO

London’s top fund managers have thrown in the towel on their fight to stop Saudi Arabia’s state oil giant Aramco from listing shares on the London exchange, accepting that the “political will” to lure what is expected to be the biggest IPO in history is too strong to oppose, The Sunday Times reported. Aramco, which Saudi officials claim is worth US$2 trillion, aims to list 5 percent of the company on one or more international stock markets next year. In April, UK Prime Minister Theresa May traveled to Saudi Arabia together…

26 июня 2017, 19:20

Exxon Talks With Emir Of ‘Isolated’ Qatar

The emir of Qatar, the tiny gas-rich Gulf state now isolated by its Arab neighbors, met with ExxonMobil’s chairman and chief executive Darren Woods in Doha on Saturday to talk bilateral cooperation relations, Reuters reports, citing Qatar’s state news agency QNA. At the beginning of June, Saudi Arabia, Bahrain, the United Arab Emirates (UAE), Egypt, Yemen, and Libya cut diplomatic ties with Qatar, accusing it of sponsoring terrorism and destabilizing the region. Last week, Saudi Arabia and its several other Arab allies issued a list…

26 июня 2017, 18:31

World’s 2nd Largest Gas Importer Set To Receive First US LNG In July

Korea Gas Corporation (KOGAS) is expected to receive its first cargo of U.S.-sourced LNG under a long-term supply contract with U.S. exporter Cheniere Energy, the U.S. company said on Sunday. KOGAS’ 20-year deal commenced officially on June 1, and the first cargo was loaded the following day, Cheniere said. The SM Eagle LNG tanker is en route from Sabine Pass to South Korea’s Tongyeong, with an estimated time of arrival of June 30. Under the terms of the 20-year Sales and Purchase Agreement (SPA) that was signed in 2012, Cheniere…

27 марта 2017, 22:55

Asia’s Top LNG Players Forming Buyers Club

Global oversupply in liquefied natural gas has emboldened buyers to push for more favorable contracts. Korea Gas Corp. (KOGAS), Japan’s JERA and China National Offshore Oil Corp. (CNOOC), which collectively represent about one-third of the world’s LNG purchases, have formed a group to exchange information and “cooperate in the joint procurement of LNG,” according to a report from Reuters. High LNG prices before 2014 left many Asian importers in a painful position and prompted several joint LNG-buying deals, but nothing on…

13 февраля 2017, 23:26

China Set To Resume Work On Nuclear Power Plants

In order to cater to growing power demand, China is likely to begin construction on inland nuclear reactors in the next four years, resuming plans for nuclear power plants that were halted after the 2011 Fukushima disaster in Japan, a senior energy official told Chinese media on Monday. China has already decided which locations would host its inland nuclear power plants, Wang Yiren, vice director of the State Administration of Science, Technology and Industry for National Defense, and vice-chairman of the China Atomic Energy Authority, has told…

11 февраля 2017, 02:09

LNG Giant Looking To Get In On U.S. Shale

The liquefied natural gas (LNG) sector is seeing a lot of activity. Spurred by prices in the key Japanese market hitting a two-year high in recent weeks, averaging $8.40/MMBtu for January. That resurgence has prompted several high-profile players to enter the space. Including Thailand’s PTTEP, which said this week it is prepping for a major move into LNG trading, storage and sales. And elsewhere, the world’s second-largest LNG buyer — Korea Gas Corp. (KOGAS) — is going one step further. Saying that it wants to directly buy…

10 февраля 2017, 21:19

Nigerian Vice President Visits Niger Delta To Restart Peace Talks

Nigerian Vice President Yemi Osinbajo visited the Niger Delta on Friday in a move that could bring peace to the oil-producing region after almost a year of militant and separatist conflict, which has seriously stunted national energy output. The African petrostate depends on oil exports for 70 percent of government revenues, but last year’s attacks by the Niger Delta Avengers and other related groups saw production drops anywhere from one-third to one-half of full capacity, depending on the time of year. Due to the decreased output, Nigeria…

10 февраля 2017, 20:56

South Korean KOGAS May Buy Into U.S. Shale Gas

One of the world’s leading LNG buyers, Korea Gas Corp (KOGAS), may be interested in taking part in U.S. shale gas projects as leverage against potential trade pressure from the new U.S. Administration, the South Korean company’s chief executive said on Friday. “U.S. trade pressure is likely to increase, but U.S. gas investments can work as a tool against trade pressure,” Reuters quoted KOGAS chief executive Lee Seung-hoon as saying at an event today. “Securing U.S. shale gas is crucial because it’s an important…

04 января 2017, 13:18

Иран допустил "Газпром" к участию в тендере по нефтегазовым проектам

Иран допустил более 20 иностранных компаний, в том числе "Газпром", к участию в раунде тендеров по нефтегазовым проектам. Об этом сообщается на сайте Национальной иранской нефтяной компании (NIOC). В числе квалифицированных претендентов испанская CEPSA, китайские CNOOC International Limited, CNPC, CNPW, Sinopec International, норвежская DNO, итальянская Eni, японские INPEX Corporation, Itochu, Japan Petroleum Exploration, Mitsubishi Corporation, Mitsui, южнокорейские Korea Gas Corporation и Posco Daewoo, датская Maersk, австрийская OMV, германская Wintershall, индийская ONGC Videsh Limited, британо-французская Perenco Holding, индонезийская Pertamina, малайзийская Petronas, польская PGNiG, аргентинская Pluspetrol, таиландская PTTEP, американская Schlumberger, англо-голландская Royal Dutch Shell, французская Total. Договорной основой станет новая модель - иранский нефтяной контракт (IPC).

13 июля 2016, 17:24

Shell Defers Final Investment Decision on LNG Canada Project

Integrated energy major Royal Dutch Shell plc (RDS.A) and its partners are yet to take the decision on export of liquefied natural gas from Canada's Pacific coast to Asian markets.

23 мая 2016, 11:29

Uzbekistan Starts up Chemicals Plant

Uzbekistan commissioned the $4bn Ustyurt gas chemical complex on May 21. South Korea's prime minister, Hwang Kyo-ahn, and his Uzbek counterpart, Shavkat Mirziyaev, participated in the inauguration ceremony of this complex which consists of five plants: gas separation plant, ethylene, polyethylene and...

15 апреля 2016, 22:40

TOTAL (TOT) Extends Tie with KOGAS, Expands LNG Operation

TOTAL S.A. (TOT) extended its tie-up with Korea Gas Corporation, which allowed it to explore opportunities throughout the LNG value chain.

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14 апреля 2016, 11:21

Rising N. Korea gas prices put pinch on traffic in capital

Pyongyang drivers are feeling some pain at the pump as rising gas prices put a pinch on what has been major traffic growth over the past few years — and that might not be good news for the isolated country’s shifting domestic economy.

12 января 2016, 22:50

Oil & Gas Stock Roundup: Crude Slumps Further, Suncor Extends Takeover Deadline

Crude dropped to its worst level since 2004 and Suncor Energy (SU) extended the deadline for its hostile bid to acquire Canadian Oil Sands.

12 января 2016, 00:00

Shell-Proposed Canadian LNG Plant Can Export for 40 Years

Royal Dutch Shell plc's (RDS.A) proposed liquefied-natural gas (LNG) plant won a 40-year export license from Canada's National Energy Board.

13 ноября 2015, 02:14

Week 46 Overview

While companies and governments are bracing for the United Nations conference on climate change to take place in less than a month, Iran is slowly disclosing its strategy for the period following the “implementation day” - when Tehran will adopt all the measures included in the nuclear deal...