Homepage / Currency / Global LNG giants turn to poor countries for new markets
Les Gambling establishments en Ligne en France 2024 200% Reward + 300 Free Rotates LevelUp Internet casino Melbourne En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi Le meilleur casino en ligne franзais Extra Casino avec le dйpфt minimal le in addition bas Yeni Casino Siteleri ᐈ Çevrimiçi Kumarhaneler Mart 2024 Les gambling establishments en ligne proposent une grande variйtй de jeux de internet casino gratuits. Türkiye’deki Resmi Web Sitesi Google Play, Türkiye’de kumar oyunlarına izin verecek Her Gün Tatil Olsa ORDU’DA PAZARTESİ GÜNÜ FINDIK FİYATI NASIL? كازينو اون لاين الكازينوهات الممتازة على الإنترنت ألعاب الكازينو المباشرة مينا كازينو العر Google Play, Türkiye’de kumar oyunlarına izin verecek Domain Sorgulama & Domain Fýrsatlarý Canlı Casino Siteleri: 2024 Güvenilir Siteler Seçilmiştir Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın 1xbet Türkiye Giriş Empieza Kayıt 202 Kumar Ve Kumarhaneler Hakkında Pek İlginç 21 Bilgi Kumarhane Doğru Yazımı Nedir? Tdk Ile Kumarhane Kelimesinin Doğru Yazılışı! Mobilbahiste En İyi Kumar Bonusları Ve Kazançlar Mobilbahis Giriş Sayfası On Line Casino Siteleri En Iyi Casino Siteleri 2024 Mostbet: Türkiye’de Internet Casino Mostbet Online Slotlar Ve Canlı-casin Pin Up Casino Oyna Türkiye, Pinup’un Sah Web Sites Ifade Haberleri Son Dakika Ifade Hakkında Güncel Haber Ve Bilgiler “önceliğimiz Transferin Önünü Açmak, Görüştüğümüz Yerler Var” On Line Casino Nuh’un Gemisi Deluxe Resort & Spa, Kıbrıs Bonus Veren Siteler 3 000 Den Fazla Online Oyunu Ücretsiz Oyna En Tehlikeli Kumar Oyunu Ekşi Sözlük Deneme Bonusu Veren Siteler Deneme Bonusu 2024 Explore the Magic of WildCardCity Güvenilir Bahis Siteleri En İyi Kumar Siteleri Balıkesir Triatlonuna Avrupadan Ödül Tricks of the Aviator gambling establishment game by Spribe Çevrim Içi Kumar Siteleri “bonus” Yalanıyla Kandırıyor En Güvenilir Canlı On Line Casino Siteleri Xbetting-tips Com Uncovering the Abundant Tapestry of Ozwin Gambling establishment Evaluating Board Portal Providers Uncovering the Wealthy Tapestry of Ozwin On line casino Electronic Data Area Providers Evaluation Cobra Internet casino: Raising the Australian On the internet Video gaming Practical experience 4 Things to Search for in Safeguarded Cloud Safe-keeping Fastpay On line casino Australia – Simple and No-Taxation Wagering Web page officielle franзaise de Joka Gambling establishment The Software Development Universe Game Woo Internet casino – Enjoy Slot machine games around australia Ostdeutsche Biersorten What Are Virtual Data Rooms? Vitamin D Receptor Polymorphisms Revue du Casino BlackLabel Faktory, kterй ovlivnujн hodnocenн ceskэch online kasin How to Make the Most of Your Web Development Organization and Advertising Efforts L’essor des casinos en ligne en France Boost Meeting Efficiency With Boardroom Technology Developments WildJoker Casino WildCardCity On line casino – Guaranteed Australian Gambling Portal WildCardCity Casino – The Ideal On the internet Gambling establishment within australia Modern Technologies Produce Sharing Documents Online Faster and More Protect Free Virtual Info Room pertaining to Speedy Due Diligence A Review of Data Area Software For people who do buiness Five Board Bedroom Features Which will help You Acquire a More Productive Boardroom Electronic Systems To your Business Understanding Legal Terms and Laws in Today’s World The Laws and Contracts of Hollywood: A Sunset Blvd. Tale Legal Discussion Between Johnny Cash and Antonin Scalia Legal Insights: What Teens Should Know Legal Issues and Exceptions: What You Need to Know Legal Insights and Expert Analysis Celebrity Dialogue: Legal Matters in the 21st Century Famous Personalities Discuss Legal Issues The Boys in the Boat: Legal Advisors and The Quest for Legal Knowledge Understanding Legal Matters: Q&A on Criminal Law, Joint Ventures, and More Enticing Title The Departed: Understanding Basic Work Requirements and Legal Rights Youth Slang Blog Article Legal Insights: A Journey into the World of Law The Ins and Outs of Legal Matters: Everything You Need to Know Legal Insights and Trends: A Rap Guide Mysterious Legal Matters Unveiled Insights and Information: Understanding Various Laws and Regulations Famous People of the 21st Century The Circle of Legal Life The Intersection of Fashion Law, Legal Translation, and THC Oil: A Modern Legal Guide Legal Q&A: Understanding Joinder Federal Rules and More Understanding Legal Terms and Conditions: A Comprehensive Guide Understanding Legal Documentation in a Fun Way! Understanding Legal Aspects: From Islamic Law of Inheritance to Farm Law Protests Understanding Legal Rights: A Guide to Legal Regulations and Requirements Understanding Legal Guidelines and Agreements Famous 21st Century People in Conversation Mysterious Legal Matters Unveiled Legal Matters and Real Estate: A Conversation Between Cameron Boyce and Donald Trump Understanding Legal Expertise and Why It Matters Legal FAQs and Expert Services Understanding Legal Ramifications: Common Law Ontario Health Benefits and More The Ins and Outs of Legal Requirements: From FBI Academy Physical Requirements to Silver Lake Fishing Rules The Legal Underworld: Understanding the Significance of Laws and Rights Legal Conversations: A Dialogue Between Jon Jones and Chadwick Boseman Legal Beats: Bobcats, Real Estate, Babysitting, and More

Currency

Global LNG giants turn to poor countries for new markets

WHEN it comes to liquefied natural gas (LNG), the supermajors have supersized appetites. The likes of Royal Dutch Shell, ExxonMobil and BP make discoveries described as “elephants”; their cost overruns alone can run into the tens of billions of dollars; and projects take the best part of a decade to complete. For years, the industry has demanded fixed, long-term contracts from their customers to justify the size of these megaprojects.

The producers also have pretty big problems. They are in the midst of a vast expansion in Australia and elsewhere just as the shale revolution and the start of American LNG exports has brought an unexpected burst of gas onto markets, clobbering prices for the foreseeable future and forcing producers into concessions. Demand in rich countries such as Japan and much of western Europe appears to be in long-term decline.

  • The Gates Foundation is worried about the world’s health

  • Retail sales, producer prices, wages and exchange rates

  • Foreign reserves

  • Why Italy’s troubled economy is returning to form

  • Sorry, Roger: Rafael Nadal is not just the king of clay

  • Sam Brownback, governor of Kansas, heads for the exit

At least one big customer, China, is making life easier. Thanks to low prices and government policies favouring gas over coal, its consumption of LNG has shot up by 50% in the past year. But domestic gas production is growing, and within two years it expects to pipe in huge volumes of Russian gas, so it can play suppliers off against each other. India is a more immediate problem. On September 11th its main importer, Petronet LNG, said it had provisionally renegotiated a 20-year supply contract with ExxonMobil that is expected to bring in gas from Australia at lower cost, albeit in larger volumes. It is the second time in two years that India has arm-twisted a producer into offering better terms.

The result is that huge LNG producers are increasingly reliant on small developing countries. The International Energy Agency, a body that represents energy consumers, says the number of LNG-importing countries has risen from 15 in 2005 to 39. Imports are rising at their fastest rate since 2011, in part because of demand from these places. Like India, low prices also embolden them to demand concessions. “We have a situation that is wonderful for emerging markets. It’s a buyers’ market,” says Lance Crist of the International Finance Corporation (IFC), the private-sector arm of the World Bank.

The trouble is, many energy-hungry countries lack the pipeline networks to distribute gas. Nor do they possess the creditworthiness to sign long-term contracts. To tap new markets, the gas giants need to think small, not big. They must recognise that flexibility is vital, analysts say.

One way of doing this is to support the development of floating terminals, rather than fixed infrastructure, to bring gas to coastal cities. One model is Excelerate Energy, a Texas-based firm that provides floating storage and regasification units (FSRUs), which turn the liquefied hydrocarbons into gas, and pipe it ashore to power plants and local grids. One of its projects (pictured), backed by the IFC, is to supply gas to a coastal town in southeastern Bangladesh, starting next year. Nick Bedford, the firm’s chief financial officer, says the cost to Petrobangla, the state oil company, will be $85m a year, excluding the gas.

In contrast, building an onshore regasification plant instead could cost a hefty $1bn, and would commit the country to natural gas for decades, even as the promise of renewable energy becomes more attractive. FSRUs are stimulating smallish pockets of demand around the world. Last year Total, the French supermajor, took a leaf out of Excelerate’s book by agreeing to spearhead an FSRU project in Côte d’Ivoire.

Another option is for big oil companies to give financial support for the construction of gas infrastructure in poor countries as a way to foster demand. This week Shell took a step in that direction by announcing that it is exploring a joint project with a Nigerian firm, Shoreline Energy, to bring domestic gas to an area near Lagos. Kola Karim, Shoreline’s boss, said the proposed $300m project would enable Shell to pipe gas into places where the infrastructure is “shot to bits”. But it is a departure from Shell’s core job of producing gas globally.

Such ventures may become more widespread if big LNG export projects extend to places like Mozambique and Tanzania, which are starved of fuel domestically. Tisha Schuller of Adamantine Energy, a consultancy, says LNG producers have a delicate balancing act. On the one hand, they want to avoid accusations of fostering an “addiction” to fossil fuels in poor countries with strong renewable-energy potential. On the other hand, reducing energy poverty by supplying gas, which is cleaner than coal and oil, could enhance their reputations. As Western consumers and financiers increasingly turn against fossil fuels, getting that balance right in the developing world will be vital.

Source: economist
Global LNG giants turn to poor countries for new markets

Comments are closed.