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Gas industry

Asia-Pacific Energy Sector Developments: Key Takeaways and Statistics

Strategic Insights

— 2 min read

South Korea and Indonesia have deepened their bilateral energy ties, with plans for South Korea to participate in the development of new oil and natural gas wells in Indonesia. In exchange, Indonesia will ensure stable oil and gas supply to South Korea. This agreement follows recent announcements in the Asia-Pacific energy sector, including ExxonMobil's refining deal with China's Sinopec and Enron's plans to build a gas-fired power plant in Japan.

Key Takeaways:

  • South Korea and Indonesia have agreed to deepen bilateral energy ties, with plans for South Korea to participate in the development of new oil and natural gas wells in Indonesia.
  • Indonesia will ensure stable oil and gas supply to South Korea, with officials from both countries meeting early next year to discuss concrete details.
  • ExxonMobil has teamed up with China's Sinopec to expand refining capacity at its 155,000 b/d Guangzhou refinery in southern China to 240,000-300,000 b/d.
  • Ethylene output could also be tripled from 160,000 t/yr as part of the deal.
  • Enron plans to build a gas-fired power plant in Japan's northern Aomori prefecture in 2004, with an initial capacity of 2,000MW.
  • The plant is expected to be operational by 2007, with the potential to raise capacity to 4,000MW in three to five years.
  • Taipower has extended the closing date of its 1.8mn t/yr natural gas supply tender to 15 January 2001, from its original date of 30 November, to try and attract bidders.
  • ONGC will invest $650mn over the next four to five years to upgrade its 210,000 b/d Bombay High North oil field, including building 40-50 unmanned well platforms and new oil and gas pipelines.
  • Thailand's bankruptcy court has postponed a decision on a debt restructuring plan for Thai Petrochemical Industries (TPI) to 12 December.
  • Peru's energy sector has been thrown into disarray following the removal of President Alberto Fujimori, with the planned signing of contracts for the Camisea natural gas project rescheduled to 5 December.

Statistics:

  • South Korea imports about 11,780 t/d of liquefied natural gas and 245,000 b/d of crude from Indonesia.
  • ExxonMobil's refinishing deal with Sinopec involves expanding capacity from 155,000 b/d to 240,000-300,000 b/d.
  • Ethylene output could be tripled from 160,000 t/yr.
  • Enron's gas-fired power plant in Japan will have an initial capacity of 2,000MW and could raise capacity to 4,000MW in three to five years.
  • Taipower's natural gas supply tender is for 1.8mn t/yr.
  • ONGC will invest $650mn over the next four to five years to upgrade its Bombay High North oil field.
  • Thailand's TPI owes $3.7bn.
  • Peru's Camisea natural gas project is expected to be signed on 5 December, with an international consortium comprising Argentina's Tech Gas, Algeria's Sonatrach, Peruvian conglomerate Grana y Montero, and the winners of the February field development project.

Sources:

  • WPA (23 October, p10)
  • WPA (18 September, p7)
  • WPA (6 November, p10)
  • WPA (27 November, p6)
  • WPA (26 June, p13)
  • WPA (27 November, p6)

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