2+ TCF of gas to be supplied to China per year for 30 years With economic sanctions taking an ever greater toll on the Russian economy, it appears Russia is increasingly turning its focus towards strengthening its trade ties with China. China is already Russia’s largest trading partner, with bilateral trade flows at $90 billion in 2013, but both countries
In part of its effort to “wage war on pollution,” as promised by Premier Li Kequiang, China’s shipyards will take upwards of $10 billion in orders for new LNG tankers this decade. Most of this demand is local, according to Choe Young-keun, an executive on the marketing planning team at South Korea’s Samsung Heavy, competitor in the drill ship, liquefied
China is the world’s largest consumer of coal. According to the EIA, almost 70% of the energy China used in 2011 came from coal. However, China announced last year that it plans to cut back on coal in favor of cleaner forms of energy. Chinese Premier Li Kequiang said, “China will wage war against smog weather,” CCTV, a Chinese news organization,
Already, Russia commands about 38.7% of Europe’s natural gas market, but it has been hard at work extending its economic influence in Europe and Asia. With almost 60% of Russia’s exports from natural gas, Vladimir Putin is taking steps to ensure that the cost of enforcing economic sanctions on his nation will hurt the sanctioning countries more than Russia itself.
China National Offshore Oil Company, or CNOOC, announced it has signed a deal worth $1.6 billion to build equipment for the Yamal LNG project in Siberia. The project is currently scheduled to begin in 2017 and annual capacity per LNG train is expected to be 5.5 million tons – all of which has already been signed to contracts. The Yamal
In the context of a new climate change summit in Beijing, the U.S. and China have signed eight partnership pacts to promote the exchange of research and technology for greenhouse gas-cutting initiatives, the International Business Times reported. “In one of the agreements, China’s Huaneng Clean Energy Research Institute, a subsidiary of the state-owned utility China Huaneng Group (ticker: HNGZ:CH), agreed
Far East Energy (OTCBB: FEEC) is a coalbed methane exploration company based in Houston, Texas, focused on exploration and development in China. Marking 17 of 18 appraisal wells recording high gas content and potential, FEEC drilled an additional three successful appraisal wells located significant distances (ranging from 13.7 miles to 21 .7 miles) from the 1H Pilot Area in the
Far East Energy Corporation (OTC BB: FEEC) announced July 25, 2011 the results of an independent engineering report prepared by Netherland, Sewell & Associates, Inc (NSAI) updating the company’s coalbed methane (CBM) net contingent resource potential and associated net contingent cash flows from the resource. NSAI’s report reviewed and updated FEEC’s coalbed methane Original Gas-in-Place (OGIP) for coal seams 3,
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