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Jan 13, 2012

Inpex approves $34 bln Ichthys LNG project in Australia

TOKYO/PERTH, Jan 13 (Reuters) – Japan’s Inpex Corp
said on Friday it has made a final investment decision
on Australia’s Ichthys liquefied natural gas export project and
that the development will cost $34 billion, paving the way for
Australia to surpass Qatar as the world’s top exporter of the
fuel by 2017.

The 8.4 million tonne per annum (mtpa) project’s price tag
is 70 percent more than Inpex’s original estimate of $20
billion.

Jan 11, 2012

Cyclone shuts Australian iron ore ports & oil fields

SYDNEY/PERTH, Jan 11 (Reuters) – A tropical cyclone
bearing down on west Australia forced the closure of some of the
world’s largest iron ore ports and several offshore oil fields
on Wednesday, the first major series of shutdowns in what is
forecast to be a tempestuous summer.

Ports serving the enormous iron ore mines of northwest
Australia began closing on Tuesday night as Cyclone Heidi,
packing winds of more than 100 kph (60 mph), swept across the
Indian Ocean toward a stretch of coast where nearly two-thirds
of the world’s seaborne-traded iron ore is handled.

Dec 19, 2011

Woodside may delay decision on Australia’s Browse LNG

PERTH, Dec 19 (Reuters) – Woodside Petroleum
warned on Monday it may need to delay a final investment
decision on Australia’s huge Browse LNG project by nearly a year
to the first half of 2013, sending shares in the energy firm
down over 3 percent.

A delay had been predicted by analysts and Woodside said the
Browse Basin partners planned to seek an extension to lease
terms, which currently require them to make a final investment
decision by mid-2012.

Dec 16, 2011

Asian LNG prices slip below $17/mmBtu

LONDON, Dec 16 (Reuters) – Asian LNG prices slipped
below $17 per million British thermal units (mmBtu) as mild
winter weather in Asia and well-stocked inventories kept buyers
out of the market.

South Korea’s inventories are still at over 90 percent of
storage capacity of 3.8 million tonnes, though down from 95
percent of capacity in November.

Dec 16, 2011

Commodities prices to withstand Australian cyclones

PERTH/SYDNEY, Dec 16 (Reuters) – Australia’s
commodities sector is bracing for another active cyclone season,
but unlike last year, prices of key exports such as iron ore,
coal and sugar may show little reaction as Europe’s economic
turmoil and surplus crops pressure markets.

A barrage of cyclones and tropical storms during the last
November-to-March “wet” season flooded collieries and halted
iron ore mining while ripping apart sugar and wheat crops,
driving up commodities prices around the world.

Dec 16, 2011

Asia Coal-Australia thermal coal dips to $110/tonne

PERTH, Dec 16 (Reuters) – Australia’s thermal coal
prices, the benchmark for Asia, slipped to around $110 per tonne
in thin trading, although Chinese buyers were reportedly in the
market for some cargoes next year.

Thermal coal on the global COAL Newcastle index for the week
to date closed at $110.20 per tonne on Thursday, down from
$111.47 per tonne a week earlier.

Dec 9, 2011

Asia Coal-Australia thermal coal flat at $111/tonne

PERTH, Dec 9 (Reuters) – Australia’s thermal coal
prices, the benchmark for Asia, were flat at around $111 per
tonne, with the coal market so far little affected by wet
weather in the Hunter Valley producing region.

Thermal coal on the global COAL Newcastle index for the week
to date closed at $111.47 per tonne on Friday, flat from $111.26
per tonne a week earlier.

Dec 5, 2011

Australia’s Woodside likely to face delays on Browse -analysts

PERTH, Dec 5 (Reuters) – Australia’s Woodside Energy
is unlikely to meet its target for a final investment
decision on its Browse liquefied natural gas project by mid-2012
and may be forced to consider relocating the project, according
to industry analysts.

Woodside has struggled to reach a consensus with its joint
venture partners on its preferred site for Browse LNG project’s
processing plant at James Price Point in northwest Australia,
while also facing local opposition.

Dec 1, 2011

Asia Coal-Australia thermal coal prices drop, buyers scarce

PERTH, Dec 1 (Reuters) – Australia’s thermal coal
prices, the benchmark for Asia, fell to around $111 per tonne
during the past week as North Asia demand continued to flounder
despite the approach of winter.

Thermal coal on the global COAL Newcastle index for the week
to date closed at $111.04 per tonne on Wednesday, down from
$113.21 per tonne a week earlier.

Nov 17, 2011

Asia Coal-Australia thermal coal prices drop with China demand

PERTH, Nov 17 (Reuters) – Australia’s thermal coal
prices fell below $114 per tonne during the past week as demand
from China, the world’s largest consumer of the fuel, remained
weak.

Thermal coal on the global COAL Newcastle index for the week
to date closed at $113.50 per tonne on Wednesday, down from
$116.50 per tonne a week earlier, with a bid for January
delivery at $113.50 per tonne.

    • 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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