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INDONESIA: Talisman Energy acquired 3.06% Tangguh LNG stake from CNOOC
Wednesday, 30 January 2008

(EnergyAsia, January 30, Wednesday) --- Canada’s Talisman Energy Inc said a subsidiary has acquired all the shares of CNOOC Wiriagar Overseas Limited from a subsidiary of China’s CNOOC Ltd for US$212.5 million.

Talisman effectively acquired CNOOC Wiriagar Overseas Limited’s 3.06% stake in the Tangguh LNG Project on January 1 2008.

The project in Indonesia’s West Papua province consists of a number of offshore gas wells, production facilities, pipelines and LNG plant facilities with a nameplate capacity of 7.6 million tons per year. Delivery of the first cargo is expected in late 2008.

“I am pleased with this settlement,” said John Manzoni, Talisman’s President and CEO. “The purchase marks the end of a longstanding contractual disagreement inherited by both parties. I look forward to further developing our business in the region and building on our relationship with CNOOC Ltd.”

Talisman Energy Inc is an independent upstream oil and gas company headquartered in Calgary in Alberta province. The company and its subsidiaries have operations in North America, the North Sea, Southeast Asia and North Africa.
 
SINGAPORE: AsiaClear cleared more than US$4.7 billion of trades in 2007, services over 160 accounts
Wednesday, 30 January 2008

(EnergyAsia, January 30, Wednesday) --- Singapore Exchange Limited (SGX) said its SGX AsiaClear unit has cleared more than US$4.7 billion worth of oil and commodity trades last year while securing over 160 trading accounts.

This represents a more than 12-fold increase in value of trades cleared and more than doubling of counterparty network over 2006.

At a ceremony yesterday, SGX AsiaClear presented awards to its top over-the-counter (OTC) inter-dealer brokers and clearing members. The awards were presented by guest-of-honour, Mrs Lim Hwee Hua, Minister of State for Finance and Transport.

Benjamin Foo, SGX’s Head of Clearing, Commodities and AsiaClear, said:

“SGX AsiaClear registered strong growth in our first full year of operation in 2007, with a sharp increase in clearing activity and growth in counterparties. We will work more closely with market participants to introduce further initiatives to grow the OTC business in Asia.”

For 2008, SGX is looking to offer clearing services for petrochemical derivative trades and dry bulk commodities contracts.
SGX AsiaClear’s rapid development was recognised by the industry in the form of two awards last year.

SGX received the Exchange of the Year - Asia Award from Energy Risk magazine, in recognition of SGX AsiaClear’s contribution to the OTC energy derivatives market. SGX AsiaClear also received the Energy Business Award for Excellence in Energy Trading and Risk Management.

SGX AsiaClear is Asia's first and only OTC clearing service for oil swaps and forward freight agreements (FFAs). With its growing pool of Asia-based trading counterparties, SGX AsiaClear is also beginning to see more interest from European players who are keen to trade with Asian partners.

It offers clearing services for OTC trades in fuel oil, gasoil and kerosene.
 
CHINA: BP increase investments in clean energy and chemical production
Tuesday, 29 January 2008



(EnergyAsia, January 29, Tuesday) --- BP has signed a series of agreements to increase its investments in China covering clean energy research, a wind power project and chemical production.

BP signed an agreement to undertake a feasibility study to jointly build a Clean Energy Commercialisation Centre (CECC) with China Academy of Sciences (CAS). This follows a Memorandum of Understanding signed in Shanghai last August.

Under the agreement, CECC will integrate clean energy related technologies like coal gasification, coal-to-liquids, coal-to-chemical, carbon capture and storage, coalbed methane and underground gasification from CAS institutes and other organisations into integrated feedstock manufacturing, product distribution systems and polygeneration complexes.

The CECC would also serve as an international platform to foster collaboration among research institutes, enterprises and other institutions to improve indigenous Chinese innovation capabilities and market applications in areas such as clean coal conversion, zero emission and carbon capture and storage.

The partners have agreed that the CECC would act as a cooperation platform between the two parties in order to support the development of the Sino-UK clean coal conversion related near zero emission initiative, including technology development and demonstration projects.

BP and CAS believe that the commercialisation of clean coal conversion and other clean energy conversion technologies will make an important contribution to China’s future energy security whilst also helping to reduce carbon dioxide emissions and address China’s future energy security and environmental sustainability issues.

A full-time working team drawn from both BP and CAS has been established to progress the feasibility study and the joint venture contract, with the aim of establishing the CECC joint venture by the end of 2008.

In a framework agreement with Beijing Tianrun New Energy Investment Co, a subsidiary of Goldwind Science and Technology Co Ltd, both companies will jointly invest in three 49.5-megawatt wind power plants near Bayan Obo in Inner Mongolia. They have agreed to explore further wind power investment opportunities in that region.

BP has also signed a MoU with Sinopec to add a new 650,000-tonne acetic acid plant at their YARACO joint venture in Chongqing in southwest China. The plant is expected to be operational in 2011 and will increase production capacity to more than one million tonnes per year, making it one of the largest acetic production sites in China.

In Beijing recently, British Prime Pinister Gordon Brown met with Chinese Premier Wen Jiabao to witness the signing of agreements.

Gary Dirks, BP President of Asia Pacific and China, said: “BP’s total investment in China has exceeded US$4 billion since our arrival some three decades ago.

“Our commercial and social investments serve a clear purpose, which is to provide quality products and materials to help Chinese consumers improve their quality of life and protect the well-being of the environment. I am pleased that BP is continuing to take steps in delivering this commitment.”
 
DUBAI: DME receives approval for block trading of Oman crude oil futures contract
Tuesday, 29 January 2008



(EnergyAsia, January 29, Tuesday) --- The Dubai Mercantile Exchange Limited said it has been given permission by the Dubai Financial Services Authority to accept privately negotiated ‘block trades’ of Oman crude oil futures contracts from January 14.

‘Block’ trades of a minimum size of 100 contracts can be submitted to the exchange via the NYMEX Clearport trade entry portal by a broker or the NYMEX facilitation desk. The block trades must be reported to the exchange within five minutes of execution.

DME CEO Gary King said: “This latest development is in response to growing demand from our members and customers to submit their off-exchange transactions to the DME.

“We are delighted to be able to offer them the world-class block trading facility developed by NYMEX and have been working with the over the counter brokers to make sure that they are aware of this new business opportunity. We look forward to a long partnership with them.”

The DME, a joint venture between NYMEX, Tatweer, a member of Dubai Holding, and the Oman Investment Fund (OIF), is the premier international energy futures and commodities exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.
 
SOUTH KOREA: Jusung Engineering, France’s CEA to jointly develop solar cells
Monday, 28 January 2008

 

(EnergyAsia, January 28, Monday) --- Jusung Engineering, a South Korean semiconductor, display and solar cell device manufacturer, has signed an agreement with research institute French Atomic Energy Authority (CEA) to jointly develop silicon-based heterojunction solar cells until at least the end of 2009.

The partners will combine their expertise to develop specific thin film silicon solar cells and large area TF LCDs.

They will develop a specific heterojunction process to manufacture thin film silicon solar cells at high efficiency. This new process targets solar cells of efficiency up to 20% using a high productivity process.

CEA’s Laboratory of New Technologies For Energy (Liten) will conduct research to improve the performance of silicon photovoltaic cells by optimising the manufacturing processes and introducing new concepts based on micro and nano technologies.

The French research institute has acquired significant laboratory-scale know-how in high efficiency photovoltaic cells using micro and nanotechnologies. It wants to accelerate the process by engaging a collaboration agreement to Jusung.

This seven-million euros joint venture will provide the institute with the necessary equipment to establish a field of high-level research on heterojunction solar cells that would help achieve a production-ready technology for transfer to its industrial partners. (US$1=0.68 euro). The new equipment will be installed in INES facilities where it conducts solar R&D.
 
PHILIPPINES: Japan, ADB to provide financial support to electric cooperatives
Monday, 28 January 2008

 


(EnergyAsia, January 28, Monday) --- Residents in remote areas of the Philippines with limited access to electricity may see light at the end of the tunnel with new financial support from Japan and the Asian Development Bank (ADB) that targets electric cooperatives.

Electric cooperatives, small distribution utilities in which all users own shares, are common in rural areas not served by larger national utilities. However, even villages with access to electricity through the cooperatives have many households that are not able to connect to the electricity because of cost or technical limitations.

The Japan Special Fund is providing a $550,000 grant to be managed by ADB to prepare the Rural Electric Cooperatives Development Project. The government of the Philippines, through the National Electrification Administration (NEA), is contributing $236,000 to the project. NEA will implement the technical assistance.

“In line with its poverty reduction program, the Philippines is eyeing 100% electrification of villages by 2009. But the technical and financial capability of electric cooperatives is still inadequate to ensure quality supply to consumers," said Yongping Zhai, Principal Energy Specialist at the ADB’s Southeast Asia Department.

The project will consolidate and strengthen the technical and financial capability of electric cooperatives in the Philippines, particularly those that are not viable, to enable them to provide efficient, adequate and reliable service at reasonable rates.

At the end of 2006, about 95% of the 36,030 villages in the Philippines had access to electricity. Those without access are mostly located in isolated areas.
 
SINGAPORE: McCloskey’s Asian Coal Conference 2008, focus on China and the Asian book
Monday, 28 January 2008

 


(EnergyAsia, January 28, Monday) --- McCloskey’s Asian Coal Conference 2008 will focus on the region’s rise as the centre of the world coal market, with China s the driving force. This year’s event will be held on at the Shangri-La Hotel in Singapore on February 26-27.

Asia led the coal world markets last year. Demand surged from all quarters, outpacing growth in supply and causing a paradigm shift in prices.

China remained a driving force: a thundering start to 2007 saw imports surge and exports falter, to the extent that for many months it became a net importer. It is unlikely to end the year as a net importer of power generation coal, but it will be close as steam exports are set to fall by 20 million tonnes.

India - followed by its neighbours – turned to South Africa to replace the missing Chinese supplies. Consequently South African and European prices rose, despite moribund European demand for much of the year.

South Africa is regaining its presence in the Far East, with the Korean gencos in particular purchasing a significant amount for 2008, after a seven-year absence.

An extended Indonesian rainy season and weather problems in Australia added to an already tight market. As China marches towards net importer status, Vietnam is making moves to keep its anthracite at home to fuel expanding domestic power capacity, straining the system still further.

For details, please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 
CHINA: Coal-Gen Sustainability Conference to be held in Beijing from February 27 to 29
Friday, 25 January 2008

(EnergyAsia, January 25, Friday) --- Coal-Gen Sustainability China 2008, a part of the Asia Energy Dialogue series, will be held in Beijing, China from February 27 to 29.

China’s power industry, the second-largest in the world, is undergoing major transformation driven by the country’s rising energy demand and increasing investment by foreign power firms.

Coal-Gen Sustainability will focus on key development in China’s coal sector including regulatory changes, supply and demand issues, developments and outlook for coal gasification technology, updates on thermal power application, carbon capture and storage, CDM and IGCC in China.

The conference will feature keynote speeches by a senior representative from the National Development & Reform Commission, Xiao Yunhan from the Chinese Academy of Sciences and Milton Catelin of the World Coal Institute.

Other speakers include Ng Weng Hoong (EnergyAsia), Cai Ningsheng (Tsinghua University), Xu Yue (Xi’an Thermal Power Research Institute), Xu Shisen (The GreeGen Co Ltd), Peter Yan (China 5e Energy Group), Jacques De Selliers (GreenFacts),Giovanni Bellina (ISAB Energy) and Zhao Jie (China Power Engineering Consulting Group Corp).

Asia Energy Dialogue Episode and Coal-Gen Sustainability China 2008 is organised by Allied Resources Allocator (ARA).

For more information on Coal-Gen Sustainability China 2008, please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .
 
KAZAKHSTAN: Lloyd’s Register Group achieve formal recognition
Friday, 25 January 2008

(EnergyAsia, January 25, Friday) --- The Lloyd’s Register Group said it has achieved formal recognition in the Republic of Kazakhstan, following the conclusion of an agreement that grants the classification society the authority to issue statutory certificates for IMO-related international conventions. The Lloyd’s Register Group will be the second classification society to be formally recognised in the country after the Russian Maritime Register of Shipping.

The agreement marks the group’s official entry into the local market at a time when oil and gas projects in the Caspian Sea are poised to generate rapid and significant growth in the offshore, marine and transport infrastructure sectors

Under the agreement, the government of Kazakhstan has delegated the Lloyd’s Register Group to carry out statutory certification services on ships and other floating facilities – including offshore mobile drilling units – registered in the country.

Chris Renwick, International Development Manager and General Director of Lloyd’s Register Kazakhstan LLP says:

“We are anticipating a huge increase in the number of ships in the Republic of Kazakhstan’s offshore support fleet related to oil and gas projects. More than 400 offshore support ships are expected to join the fleet within the next five to eight years alone. We now have a solid basis in the country and will be able to offer the growing Kazakhstan fleet a full range of services from across the Lloyd’s Register Group.”

Sergey Klimenko, senior surveyor for Kazakhstan, said: “The agreement gives the Lloyd’s Register Group the ability to develop a strong body of specialists in the marine, oil and gas and transport industries focused exclusively on delivering our services in Kazakhstan – efforts which will be also be strengthened by our growing LRQA (quality management systems) business here.”

Kazakhstan is set to develop a fleet of ships rapidly for the support of offshore oil and gas operations in the Caspian Sea. The government is keen to adopt best practice in standards of safety, quality, and environmental protection so as to integrate further with the worldwide marine community.

Mr Renwick said: “In order to ensure that our service delivery will be able to match the growing needs of the local industry, Lloyd’s Register Kazakhstan LLP intends to bring in experienced colleagues from across the Lloyd’s Register Group to mentor and develop our local employees. We will be opening offices in Atyrau and Aktau in the next three months and in the next six months we will be recruiting an additional three staff, to meet the developing market needs, one experienced Lloyd's Register Group surveyor and two new but experienced engineers. Following that we aim to recruit at least two more young engineers to build a sound base of local expertise for the future.”

Lloyd’s Register Kazakhstan LLP was founded by Lloyd’s Register EMEA in June 2005 as a local legal entity. The group is already engaged in a number of major energy projects in Kazakhstan as well as the certification of quality management systems such as ISO 9001: 2000 for an increasing number of Kazakh companies mainly in the oil and gas, natural resources and related engineering sectors.
 
AUSTRALIA: BHP Billiton approves US$390 million investment in third export coal terminal in Newcastl
Friday, 25 January 2008

(EnergyAsia, January 25, Friday) --- Australia resources company BHP Billiton said it has approved a US$390 million investment as its share in its third coal export project in Newcastle port on Kooragang Island. The first ship loading of coal is scheduled for late 2010.

The project, managed by the Newcastle Coal Infrastructure Group Pty Ltd (NCIG), calls for the construction of a 30-million-tonne-per-year export coal loading facility with a future option to expand to 66 million t/y.

The port will include a rail unloader, stockpile facilities, a ship loader and two berths in the south arm of the Hunter River.

Dave Murray, President of BHP Billiton’s coal business, said: “This project is an important strategic investment. It underpins our ability to pursue growth options in our New South Wales energy coal business and enables us to meet strong demand from our customers.”

NCIG’s shareholders include BHP Billiton (35.5%, through Hunter Valley Energy Coal Pty Ltd), Peabody Coal (17.7% through Excel Coal Limited), Felix NSW Pty Ltd 15.3%, Donaldson Coal Pty Ltd 11.6%, Whitehaven Coal Mining Limited 11.1% and Centennial Coal Infrastructure Pty Ltd 8.8%.
 
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