East Asia ///

CERAWeek: No short-term solution for European gas crisis, says Tellurian CEO

Europeans are very lucky that it was a warm winter, panelists said during CERAWeek by S&P Global energy conference, referring to an ongoing natural gas crisis that start long before Russia invaded Ukraine.

2022 Forecast: Activity outside North America will lead global recovery

Staff

Every region will post an increase, led by the Middle East, the Americas, Africa and the FSU. Offshore activity will grow at about the same pace as onshore drilling.

Asia diverts extra LNG inventories to gas-starved Europe

Asia’s relentless buying of liquefied natural gas earlier this year has left the region so well stocked for winter that spot shipments are being diverted to energy-hungry Europe.

Frigid winter forecast for Asia threatens to worsen energy crisis

A weather phenomenon that typically delivers harsher winters is on the way and expected to add to Asia’s energy crisis.

BP Singapore inks 10-year LNG supply deal with Pavilion Energy that includes CO2 reporting

Pavilion Energy Trading & Supply and BP Singapore have signed a long-term LNG sale and purchase agreement for the supply of approximately 0.8 million tons of LNG per year to Singapore for 10 years from 2024. As part of the agreement, both companies will strive to co-develop and implement a greenhouse gas quantification and reporting methodology.

Mongolia’s Petro Matad moves forward with Block XX Exploitation License

The Mineral Resources Professional Council (MRPC) concluded that it supports and will approve Petro Matad’s Plan of Development for the Block XX Exploitation License once certain technical clarifications have been provided.

Neptune Energy producing natural gas from Merakes project in Indonesia

Neptune Energy announced that the operator, Eni, said production has started from its Merakes development in the East Sepinggan block offshore Indonesia.

Saudi discounts oil to Asia, defending market share after OPEC+ cuts

Saudi Arabia might have just signed off on one of the most notable oil output deals in history, but challenges lie ahead as the kingdom faces keen competition from rival suppliers to the prized Asian market.

Oil tumbles below $50/bbl with virus sapping Chinese demand

Oil fell below $50/bbl for the first time in more than a year as China’s oil consumption was said to plunge by 20% amid the spread of coronavirus, threatening what could be the largest demand shock since the since the global financial crisis.

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