TOKYO/PERTH, Oct 16 (Reuters) – Japan plans to start up 14
new gas and coal-fired power plants by the end of 2014, allowing
a switch away from pricey oil, as Tokyo struggles with a
shutdown of nuclear reactors and energy imports drive a record
Regional power monopolies will construct 12 gas-fired units
next year, while two new coal power plants will be completed by
December 2013, according to a Reuters survey of utilities.
SYDNEY/PERTH (Reuters) – Australia forecast solid growth over the next five years for two of its biggest export earners, iron ore and thermal coal, but analysts warned it may struggle to meet targets for coal as global demand growth fades.
Iron ore exports are forecast to jump 17 percent in 2013/14 and average 8 percent growth over the next five years, despite softening demand growth in China, the Bureau of Resources and Energy Economics (BREE) said in its latest quarterly report.
PERTH, Aug 30 (Reuters) – East Timor is offering to invest
$800 million to build a pipeline to take gas from the Timor Sea
to the tiny nation, as it makes a new pitch to resolve a dispute
with Australia’s Woodside Petroleum over how to develop huge
fields in the area.
East Timor has insisted for a decade that a liquefied
natural gas plant to process gas from the Greater Sunrise fields
should be built on its shores, bringing with it much-needed
development. Woodside says the plan is uneconomical and
wants to use a floating LNG plant.
PERTH, July 4 (Reuters) – Australia’s Santos Ltd
and BG Group PLC agreed on Thursday to link their major
gas pipelines, allowing them to buy, sell, and swap gas supplies
- a move that will help slash costs at a time when they have
been hit by budget overruns.
The long-awaited first step toward collaboration between
three coal seam gas to LNG projects under construction on
Australia’s seaboard should result in savings of hundreds of
millions of dollars, according to Santos.
PERTH, June 12 (Reuters) – Brent futures dropped towards
$102 on Wednesday after an unexpected jump in oil inventories in
the world’s largest consumer, the United States, while producer
cartel OPEC and the U.S. government both trimmed global demand
A Bank of Japan decision not to follow up a $1.4-trillion
stimulus programme announced in April rekindled fears that other
central banks, including the U.S. Federal Reserve, could scale
back stimulus efforts, and also hurt investor sentiment.
PERTH, June 11 (Reuters) – Brent futures held under $104 per
barrel on Tuesday after the world’s largest consumer, the United
States, nearly doubled an estimate of its shale oil reserves,
while prospects of a slowdown in Chinese demand sapped prices.
Estimated global reserves of oil in shale rock deposits will
boost total world crude resources by 11 percent, the U.S.
government said in a report on Monday.
TOKYO/PERTH, June 10 (Reuters) – Brent crude dipped toward
$104 per barrel on Monday as weak data from top energy consumer
China muddied the outlook for oil demand, overshadowing the
optimism stemming from a pickup in U.S. hiring last month.
Oil prices had risen in early trade on the U.S. jobs data
that showed a slight improvement, indicating that while the
economy of the world’s top oil consumer was healthier, it was
also still in need of the Federal Reserve’s monetary support.
SEOUL/BRISBANE, May 29 (Reuters) – Asia’s demand for natural
gas to generate electricity is set to rise this summer as
leading buyer South Korea joins Japan in snapping up cargoes of
the fuel to plug a power shortfall after more nuclear reactors
were shut over safety concerns.
Seoul has warned of power shortages and rolling blackouts
due to the closure of two reactors and the extended shutdown of
a third to replace parts supplied using fake documents.
BRISBANE, May 29 (Reuters) – A downturn in parts of
Australia’s once-booming mining sector is having an unexpected
silver lining – freeing up labour and resources for at least
$190 billion of liquefied natural gas projects being built in
Stiff competition in the energy and mining sectors driven by
an infrastructure building spree to meet Asian demand has led to
shortages of some workers and driven up wages in recent years.
PERTH, May 24 (Reuters) – Australian coal miners are
steeling themselves for years of production cuts, job reductions
and asset sales as swelling shipments from international rivals
lower hopes of a recovery in prices for coal.
Prices have slumped around 30 percent since their peak two
years ago as coal flooded global markets, especially from the
United States where cheap gas has cut domestic demand and led to
a nearly 50 percent jump in thermal coal exports last year. Even
robust Chinese and Indian demand growth is failing to soak up
the plentiful supply.