BP and its partners invest $7 billion into a carbon capture project in Indonesian Papua
BP and its partners announced that they will invest $7 billion into a carbon-capture project and the development of gas fields in Indonesia's easternmost Papua Region, which could unlock an additional 3 trillion cubic feet in gas resources. The British oil producer announced its investment in London on Thursday during a meeting between President Prabowo Subito, who was visiting London. The company said that production at Ubadari is expected to begin in 2028. Gas from the field will be processed in the Tangguh liquefied gas plant in West Papua.
Russia's Novatek Signs LNG Agreement with Japan's JOGMEC
Russia's Novatek said on Monday it had signed a framework agreement with Japan Oil, Gas and Metals National Corp (JOGMEC) to cooperate on Novatek's liquefied natural gas (LNG) projects in the north of Russia."The parties agreed to explore opportunities to cooperate on Novatek's projects in the Yamal and Gydan peninsulas, including the Arctic LNG 2 project, on developing a regular transport link via the Northern Sea Route for LNG deliveries to the Japanese and Asia-Pacific markets," the statement said.Novatek controls the Yamal LNG project, in which France's Total
Japan to Buy up to 50,500 T LPG for National Stockpile
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) has issued a tender to buy 50,000 to 50,500 tonnes of liquefied petroleum gas (LPG) for national stockpile. The tender was in line with expectations. Reuters reported in May that Japan will likely conduct a tender in the autumn to buy up to 100,000 tonnes of LPG for national stockpiles. JOGMEC is seeking propane for a stockpiling base in Kurashiki in the country's west for delivery by Nov. 15, a tender document showed. The tender will be held on Aug. 30, with offers to be evaluated the same day.
Japan, Saudi Aramco extend Okinawa Crude Storage Deal
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said it signed a contract with the world's top exporter Saudi Aramco on Wednesday to extend a crude oil storage deal on the island of Okinawa by three years. Under the agreement, Saudi Aramco can store up to 1 million kilolitres (6.3 million barrels) of crude oil on the island southwest of mainland Japan for the next three years, JOGMEC said in a statement. The volumes are unchanged from the previous three-year deal, which is expiring this month.
First Aramco Spot Crude Lifting to Chinese Teapot Refiner
Saudi Aramco has sold a crude oil cargo to an independent Chinese refinery, its first spot sale to such a buyer in a sign that the world's biggest exporter is trying to expand beyond its state-owned customers in China, a source with knowledge of the deal said. The 730,000-barrel cargo will be lifted in June from Aramco's storage in Japan's Okinawa prefecture and shipped to China's eastern province of Shandong, the source said. The buyer is Shandong Chambroad Petrochemicals Co.…
Japan Buys LPG Cargo for National Reserves
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) on Thursday bought liquefied petroleum gas (LPG) for the country's national reserves via tender, a trade ministry official said. JOGMEC was seeking one cargo with 44,000 to 47,000 tonnes of propane for a stockpiling base in Namikata in Ehime prefecture, for delivery until March 25. JOGMEC in December bought 22,000 tonnes of propane for the national reserves. Japan, which has five national LPG stockpiling bases…
JOGMEC Buys Light Crude for Strategic Reserves
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) on Monday bought about 2.52 million barrels (400,000 kilolitres) of light crude via tender for the government's Strategic Petroleum Reserves, a trade ministry official said. JOGMEC was seeking four sets of 630,000-barrel light crude, which are to be delivered to two government stockpiling bases in Tomakomai City in Hokkaido, northern Japan, by Feb. 24, 2016. The ministry official declined to comment on the crude grades or the prices.
Japan Buys Itochu LPG
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said on Thursday it had bought liquefied petroleum gas (LPG) from Itochu Corp to store in its national reserves. JOGMEC on Tuesday bought 22,000 tonnes of propane for the stockpiling base in Kurashiki in Okayama prefecture, for delivery until Aug. 12. JOGMEC said in a statement on Thursday it would not disclose the price. JOGMEC last month bought 44,000 tonnes of LPG for Namikata national LPG stockpiling base in Ehime prefecture.
Turning Point for Coal? Japanese Buying Coal Assets
Japan is world's second-biggest coal importer; trading houses take advantage of depressed coal markets. Only a few months ago, a potential buyer said Japanese trading house Marubeni Corp was prepared to sell a costly stake in a Canadian coal mine for as little as $1. But a flurry of acquisitions of high-quality coal assets by Japanese firms in recent weeks signals that some trading houses at least are betting a depressed coal market where prices have halved in three years may be bottoming out.
Abu Dhabi Crude to Top Up Japan's SPR
State-run Japan Oil, Gas and Metals National Corp (JOGMEC) bought about 1.26 million barrels (200,000 kilolitres) of Abu Dhabi Das crude from Itochu Corp for the government's Strategic Petroleum Reserves, two industry sources said on Thursday. JOGMEC had been seeking 1.26 million barrels of Middle Eastern light crude, with shipments to be delivered to the Shibushi national oil storage base in Kagoshima, southern Japan, operated by a wholly-owned unit of JX Nippon Oil & Energy Corp , between Jan. 25 and March 5.
Russia-China Gas Deal Still Leaves Door Open To Japan
For once, China looks to have done Japan a favour. In clinching a $400 billion deal last month to buy Russian gas, China may end up helping out its old political and economic rival in a way that matters hugely for Japan - energy security. The China-Russia agreement, the biggest gas deal ever, unlocks new gas supplies and could bring down gas prices across Asia, a development that would pay the biggest dividends for Japan, the world's top buyer of liquefied natural gas. Other big Asian gas buyers such as South Korea and Taiwan could also benefit.
Japan Test Production of Frozen Subsea Gas
Japan to begin the world’s first offshore drilling operation to extract frozen natural gas locked under the seabed. Japan Oil, Gas & Metals National Corp., known as JOGMEC, and the National Institute of Advanced Industrial Science and Technology will begin test production for methane hydrate in the Nankai Trough about 50 kilometers (31 miles) off the coast of the country’s main island of Honshu, reports Bloomberg. Deposits of methane hydrate, known as “burnable ice…
Japanese Deep Ocean Exploration Ship Shown Off
Japan has unveiled a 6,283-ton exploration vessel that will search for rare metals and other natural resources in waters around the nation. The Hakurei, 118 meters long and 19 meters wide, was shown to the media at Harumi Wharf in Tokyo. The vessel features drilling equipment that can dig up 400 meters into the seabed at a depth of 2,000 meters. The ship will initially search for resources off Okinawa Prefecture and the Ogasawara Islands. The Hakurei is owned by the government-backed Japan Oil, Gas and Metals National Corp.
