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Mar 6, 2012

Insight: Papua New Guinea mountain disaster questions Exxon

By Rebekah Kebede

(Reuters) – A deadly landslide in the mountains of Papua New Guinea, near where U.S. oil major Exxon Mobil is building a $15.7 billion gas project, is raising fresh questions about the global energy industry’s scramble for ever harder-to-reach resources.

The landslide tore through a quarry used by Exxon in January, killing at least 25 people in the poor South Pacific country, but it has stirred little international publicity, even though an expert report had questioned the safety of the excavations.

Mar 6, 2012

Papua New Guinea mountain disaster asks questions of Exxon

March 6 (Reuters) – A deadly landslide in the
mountains of Papua New Guinea, near where U.S. oil major Exxon
Mobil is building a $15.7 billion gas project, is
raising fresh questions about the global energy industry’s
scramble for ever harder-to-reach resources.

The landslide tore through a quarry used by Exxon in
January, killing at least 25 people in the poor South Pacific
country, but it has stirred little international publicity, even
though an expert report had questioned the safety of the
excavations.

Mar 5, 2012

Xstrata, Japan annual coal contract talks seen next week

PERTH/TOKYO, March 5 (Reuters) – Annual negotiations
between Japanese utilities and Australian coal producers for the
Asian benchmark thermal coal contract starting on April 1 are
expected to begin next week when Xstrata’s lead
negotiator is expected in Japan.

The annual contract prices are set by mining major Xstrata
Coal, the world’s largest exporter of power-station
coal, and large Japanese utilities including Tokyo Electric
Power Co (TEPCO), Tohoku Electric Power Co Inc and
Chubu Electric.

Feb 24, 2012

Global LNG-Asian LNG prices up on stronger demand

PERTH, Feb 24 (Reuters) – Asian liquefied natural gas
spot prices rose to over $15 per million British thermal units
(mmBtu) LNG-AS as Japanese demand for the fuel increased.

Japan, the world’s largest LNG consumer, was seen back in
the market for LNG cargoes for April delivery as it struggles to
meet electricity demands with more than 95 percent of its
nuclear reactors offline.

Feb 24, 2012

Asia Coal-Australian prices inch up, China on sidelines

SHANGHAI/PERTH, Feb 24 (Reuters) – Australia’s thermal
coal price benchmark fell for the fourth week to around $106 a
tonne this week, as key buyers stayed away and sellers face
price pressure in an oversupplied market, but annual price
negotiations with Japanese buyers lent support.

Thermal coal on the globalCOAL Newcastle index for the week
to date closed at $116.69 a tonne on Thursday, down from $118.07
a week earlier.

Feb 10, 2012

Australia’s Santos reports coal seam gas spills

PERTH, Feb 10 (Reuters) – Australia’s Santos
on Friday reported three spills of contaminated water containing
heavy metals from its coal seam gas operations in the country’s
eastern New South Wales state.

The revelation gives ammunition to Australia’s influential
Greens party, environmental groups, and farmers who have been
calling for a moratorium on developments of the unconventional
gas, chiefly for fear it may affect water supplies.

Feb 6, 2012

Australian floods force thousands from their homes

PERTH (Reuters) – Thousands of Australians were forced from their homes on Monday because of floods that have risen to record levels in some areas and killed one person, and authorities issued warnings for more than a dozen rivers in Queensland and New South Wales states.

Australia’s coal industry, which is concentrated in Queensland and New South Wales, was largely unaffected, easing concern about a repeat of last year’s disastrous floods that sent global coal prices soaring.

Jan 23, 2012

Analysis: Australian LNG boom fizzles as costs, competition bite

PERTH (Reuters) – Just a few years after it started, Australia’s liquefied natural gas bonanza may be drawing to a close, throttled by swelling costs, tightening credit and mounting foreign competition to supply Asian buyers.

New Australian projects have been getting approved at a furious pace, with six kicked off in the past 18 months. About $180 billion worth of LNG export projects are now being built, putting the country on track to quadruple its LNG exports by the end of the decade.

Jan 20, 2012

Global LNG-Asian LNG prices weaker on ebbing demand

PERTH, Jan 20 (Reuters) – Asian liquefied natural gas
spot prices dropped lower for the seventh straight week to just
above $15 per million British thermal units (mmBtu) LNG-AS due
to low demand from well-stocked buyers in North Asia.

The world’s top two LNG buyers, Japan and South Korea, had
stocked up well ahead of the winter and prices may even dip
further as spring approaches, according to market sources.

Jan 19, 2012

Australia’s Woodside, Santos say LNG on schedule, production near target

PERTH, Jan 19 (Reuters) – Top Australian energy firms
Woodside and Santos said their multi-billion
liquefied natural gas export projects are progressing on
schedule after reporting fourth-quarter production that dipped
in line with forecasts.

Woodside’s A$14.9 billion ($15.5 billion) Pluto LNG export
project expected to come online on schedule in March 2012,
making it Australia’s first new LNG project to come online in
six years.

    • About Rebekah

      "Based in Perth, Australia, I cover coal and gas in Asia. Before moving to Perth, I covered oil and fuels like gasoline and diesel in New York City, including the climb of oil prices to a record high near $150 per barrel."
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