News Clipping Archive - Page 1132 of 1324

Energy Cooperation

Dr M: Prosper-thy-neighbour policy promotes concept of shared security

24 June 2019

–

Malaysia

KUALA LUMPUR, June 24 — Malaysia must recognise the potential of its neighbours to forge strategic alliances on the back of a Prosper-Thy-Neighbour policy that promotes the concept of shared prosperity, Prime Minister Tun Dr Mahathir Mohamed said today.

The strategic alliances according to him would lead to a new energy future that was sustainable and secure for generations to come.

“The growing industrialisation of emerging economies such as China, India and South-east Asia will require energy to fuel their growth,” he said during the opening of Asia Oil and Gas Conference 2019 here today.

He said today’s world is confronted with increased concerns over the sustainability of global economic growth in the face of rising financial, political, social and environmental challenges.

“As nations progress towards a robust global economy, we see improvements in life expectancy rates, literacy and livelihoods. These can result in predictable consequences,” he added.

Although reliance on fossil fuels are expected to remain intact, Asia has made great strides in utilising less carbon-intensive fossil fuels such as natural gas, said Dr Mahathir.

According to the International Energy Agency (IEA), global energy consumption in 2018 increased at nearly twice the average rate of growth since 2010.

Dr Mahathir said more countries were pursuing prosperity and a better quality of life.

As a result, energy companies must adjust their strategies and practices to navigate the policies and regulations adopted by countries that are aligned for example, to the United Nations Sustainable Development Goals framework and the Paris Agreement on emissions target, he added.

“Having said all these, Asia, however, continues to position itself as a dynamic and vibrant market despite facing common challenges in the rising demand for energy, expanding energy access and meeting climate commitments.

“For Asia to develop, the countries in the region must explore a range of options to improve energy efficiency and affordability by diversifying their energy mix,” he added.

Dr Mahathir said the oil and gas industry was a cyclical business as history has shown that the ability to respond quickly with systematic and coherent strategies is necessary for longevity.

“Indeed, the Middle East is as turbulent as it was back then in spite of, or because of the success of the Western powers and their allies in affecting regime changes in the region and forcing the acceptance of what they defined as democracy, he added.

“Whether we acknowledge it or not, the military expeditions of 2003 used democracy as their cause when it is widely accepted that it was merely a camouflage, a pretext to take control over the production of oil in these nations,” he added.

While the turmoil of 2003 and the subsequent years remain unabated, the world was now facing an unprecedented economic crisis caused by the US-China trade war.

“At this point in time, we will not know how it will fan out but even as it is, numerous casualties have fallen along the way and we can expect more to fall if it persists,” said Dr Mahathir.

In the Gulf, he pointed out the games of provocation create more uncertainties and these have definitely increased the stress on doing business and surely the oil and gas industry is and will be affected. — Bernama

Others

PM calls for Asian O&G industry leaders to form partnerships for new energy solutions

24 June 2019

–

Malaysia

KUALA LUMPUR (June 24): To withstand the rising challenges facing the oil and gas (O&G) industry, Prime Minister Tun Dr Mahathir Mohamad is calling for Asian industry leaders to enter into strategic dialogues to open up possibilities of new avenues for collaboration that will lead to innovating new energy solutions.

Delivering his keynote address at the 20th Asia Oil & Gas Conference 2019 (AOGC 2019), Dr Mahathir stressed that for Asia to develop within the industry, the countries in the region must explore a range of options to improve energy efficiency and affordability by diversifying their energy mix.

“We must therefore recognise the potential of our neighbours to forge strategic alliances on the back of a Prosper-Thy-Neighbour policy that promotes the concept of shared prosperity. Only then can we forge a new energy future that is sustainable and secure for generations to come,” he said.

In this regard, Dr Mahathir highlighted that national O&G company, Petroliam Nasional Bhd (Petronas), has spearheaded an industry-wide study with various agencies to develop an Oil, Gas, Energy and Environment White Paper on Malaysia’s Future Energy Landscape.

“The study supports the country’s aspirations to be a low-carbon economy with a blueprint on energy policies that will stimulate action towards achieving Malaysia’s Paris Agreement pledge. Petronas and its partners should be commended for undertaking this study,” he said.

Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin, in his welcome address, also agreed with the prime minister’s sentiment.

He said the new energy landscape calls for greater collaborations not only between industry players but also with other industries. Hence, he emphasised that energy companies will need to explore non-traditional partnerships to provide innovative solutions.

“This change in mindset is crucial as the industry is faced with greater consumer demands for sustainable and responsible environmental products.

“Changes in business models brought about the digital transformation and the need to acquire different capabilities and skill sets are also important to forge partnerships beyond the energy space — all towards ensuring the sustainability of our organisations as well as the industry as a whole,” Wan Zulkiflee said.

In its 20th edition, AOGC 2019 bears the theme ‘Forging a New Energy Future’. For the next two days, it will host strategic conversations that address the growing demand for affordable, accessible and efficient energy.

With 1,400 delegates from 34 countries, the conference will also address how the industry should continue to seek opportunities in forging a sustainable energy future for generations to come, Wan Zulkiflee added.

“The convergence of experts from other industries, topics that addresses current and pertinent energy issues and cross-industry sharing of experiences will hopefully bring different perspectives to the dialogues and conversations surrounding the conference,” he said.

Others

White paper on Malaysia’s energy future aimed at achieving Paris Agreement pledge

24 June 2019

–

Malaysia

Petroliam Nasional Bhd (Petronas) is spearheading an industry-wide study with various agencies to develop an Oil, Gas, Energy and Environment White Paper on Malaysia’s Future Energy Landscape.

Prime Minister Tun Dr Mahathir Mohamad said the study supported Malaysia’s aspirations to be a low-carbon economy with a blueprint on energy policies that will stimulate action towards achieving the country’s Paris Agreement pledge.

“Petronas and its partners should be commended for undertaking this study. Petronas, as one of the largest liquefied natural gas (LNG) supplier in the world, is poised to meet growing energy demand while advocating gas as a significant source of clean energy,“ he said in his speech at the Asia Oil and Gas Conference 2019 here today.

He pointed out that natural gas is in abundance in many locations, besides being environmental-friendly and economically competitive.

“The Pengerang Integrated Complex in Johor, which is the largest oil and gas downstream investment in Malaysia, will strengthen Petronas’ position as a key player in the Asian chemicals market once they are operational,“ said the Prime Minister.

Petronas he added has also made great strides in venturing beyond oil and gas into the renewable energy space.

“The company’s recent venture into the new energy space is just the beginning. I am also pleased to note that Petronas is working on a number of clean energy initiatives in Malaysia.

Among them is its collaboration with Universiti Teknologi Mara to jointly develop Large Scale Solar projects,” he said.

Dr Mahathir believed that Malaysia would be at the centre in the drive towards collaborations that extend beyond traditional oil and gas partnerships to also involve sectors for innovative energy solution.

Themed “Forging A New Energy Future”, the two-day AOGC 2019 will end tomorrow. — Bernama

Oil & Gas

PTT to expand retail, power sectors amid slower growth

24 June 2019

–

KUALA LUMPUR: Thailand’s state energy firm PTT Plc has stepped up investments in the retail and industrial power sectors to buffer the impact of a global economic slowdown on its oil refining and chemical businesses, its chief executive said on Monday.

“We have a global challenge and that is the (US-China) trade war. That is one of our challenges – how can we survive in the short term?” PTT’s President and Chief Executive Officer Chansin Treenuchagron told Reuters.

Asia’s oil and petrochemical producers are facing thin profit margins as fuel and chemical supply exceeds demand amid new production plants starting up while global demand growth slowed amid the trade war between the United States and China, the world’s two largest oil consumers.

The International Energy Agency revised down its 2019 oil demand growth estimate by 100,000 barrels to 1.2 million barrels per day due to the worsening prospects for world trade although stimulus packages and developing countries should boost growth going into 2020.

“We look at continued improvement in the short term. How can we sell at lower costs? How can we find another income that doesn’t depend on oil and petrochemicals?,” Mr Chansin said.

One way to create more income would be expanding its retail business, he added, including expanding its Cafe Amazon brand of coffee shops across Asia.

PTT is planning an initial public offering (IPO) for PTT Oil & Retail Co (PTTOR) on the Stock Exchange of Thailand, the sixth company to be listed under the PTT group.

PTTOR, which includes gas stations, Cafe Amazon cafes and convenience stores, was expected to kick off its IPO process later this year which could raise about $2 billion.

PTT is seeking approvals from shareholders, its board of directors and the local securities authority for the IPO, Mr Chansin said, but declined to say how much the company plans to raise.

The retail unit’s “market is not only in Thailand anymore, and we want to expand in Indochina and in other Asian countries,” he said on the sidelines of the Asia Oil and Gas Conference.

PTTOR also plans to build an oil and liquefied petroleum gas (LPG) import terminal near Thilawat in Myanmar with the Kanbawza Group, Mr Chansin said.

PTT is also expanding its utility subsidiary Global Power Synergy which focuses on providing power to industries, Mr Chansin said.

GSPC is also pursuing a gas-to-power project in Myanmar, he said. The company has boosted its power-generating assets through acquisitions of a power project from PTT subsidiary Thai Oil Plc and the purchase of Glow Energy Plc from France’s Engie SA.

Last week, PTT also increased its investment spending plan for 2019 by 47% to 103.70 billion baht to support its subsidiaries’ expansion into electricity and renewable energy.

Electricity/Power Grid

Thailand aims to become electricity hub of ASEAN

24 June 2019

–

Thailand

BANGKOK, June 24 (Xinhua) — Thailand on Monday has made it clear that it aims to become the electricity hub in the Association of Southeast Asian Nations (ASEAN) region.

Speaking at the 37th Senior Officials Meeting on Energy (SOME) held in Bangkok, permanent secretary of the Thai Energy Ministry Kulis Sombatsiri told the media that Thailand is planning to develop its power transmission lines to become the electricity hub of the region, sourcing hydropower from Laos and selling it to Malaysia, Cambodia and Myanmar.

The 37th SOME meeting, held under the concept of “Advancing Energy Transition through partnership and Innovation,” brought representatives from 10 ASEAN countries as well as international organizations, such as international energy agencies and international renewable energy agencies, to discuss issues pertaining to electricity trade in ASEAN.

Kulis said he had discussed with ASEAN Energy ministers to find ways to guarantee affordable electricity to the ASEAN region.

“In order to provide affordable electricity to people in ASEAN, we need to install modern transmission lines,” said Kulis, “other alternatives include providing other sources of renewable energy including solar, wind and biomass power.”

In regards to natural gas, ASEAN member countries have agreed to establish warehouses and transportation pipeline system to support the increasing energy demand in ASEAN from the current 10 million tons per year to 60 million tons in 2035.

Discussions tabled at the meeting will be brought to the ASEAN Ministerial Meeting on Energy that will take place on Sept. 2-3.

As the ASEAN chair, Thailand is pushing for polices related to electricity, energy efficiency, renewable energy and natural gas.

The ASEAN Senior Officials Meeting on Energy took place in Bangkok on June 24-28 with an aim to shift ASEAN from fossil fuel to clean power.

Renewables

BGRIM’s Vietnam solar projects come on line adding 31% to operating capacity

24 June 2019

–

Vietnam

Bangkok, June 13, 2019 – B.Grimm Power Plc (BGRIM), one of Thailand’s largest private power producers, successfully commenced commercial production from its two large solar power schemes in Vietnam with a combined total installed capacity of 677 megawatt during June 3-13, 2019.

All of BGRIM’s solar projects in Vietnam were successfully synchronised with the grid of Electricity of Vietnam (EVN), the offtaker, on June 3 for DAU TIENG 1, June 10 for Phu Yen TTP and June 13 for DAU TIENG 2.

“It is a successful startup, right on time, to herald a new era for renewal energy scene in Vietnam and represents a new significant revenue stream for BGRIM,” said BGRIM CEO Preeyanart Soontornwata.

At the feed-in-tariff of 9.35 US cent per kilowatt hour, the two solar Photovoltaic ventures will provide steady power sale revenue to BGRIM over the next 20 years.

The commencement of the two solar PV projects lifts BGRIM’s total installed generating capacity already in commercial production by 31% and boosting the contribution of renewal energy in the company’s total portfolio to 30% from 10% previously.

With DAU TIENG 1-2, billed as the largest solar facility in Southeast Asia to date with a total capacity of 420 MW, and the 257-MW Phu Yen, BGRIM operates 45 power projects with a combined installed capacity of 2,892 MW.

BGRIM’s power houses currently in production include 17 thermal, 24 solar, three hydropower and one diesel.

The company has 11 power projects under construction and development which will raise BGRIM’s total generating portfolio to 3,245 MW in 2022.

BGRIM is actively pursuing expand investment opportunities both at home and abroad to achieve its mission to grow its portfolio to 5,000 MW in 2022.

BGRIM was mandated by the Vietnamese government to explore additional renewable energy investment projects.

Under construction is investment in several wind power projects in Vietnam which are expected to be finalised by this year-end.

Moreover, BGRIM has joined hands with alliance partners to study feasibility of investing in many projects in South Korea, Malaysia, Cambodia, and the Philippines, both in the forms of creating greenfield projects and acquisitions.

Renewables

Pacifico Energy brings online 40-MWp solar park in Vietnam

24 June 2019

–

Vietnam

June 24 (Renewables Now) – Asian renewables developer Pacifico Energy KK announced Monday that its 40-MWp Mui Ne solar photovoltaic (PV) park in Phan Thiet city, Vietnam, started operations on June 12.

Built on a site of about 38 hectares (93.9 acres), the Mui Ne solar park will produce around 68 million kWh per year. State-owned power company Vietnam Electricity (EVN) will purchase all of the output at a price of USD 0.0935 (EUR 0.08) per kWh for a period of 20 years.

Construction of the Mui Ne solar park in the Binh Thuan province began on October 12, 2018. The engineering, procurement and construction (EPC) contract was awarded to TTCL Vietnam Corporation Ltd (TVC), while Orient Commercial Joint Stock Bank (OCB) has provided the long-term non-recourse project financing.

Pacifico will manage the Mui Ne park. The company’s strategic partner for the Mui Ne project is Dragon Capital Group, a Vietnam-based asset manager.

(USD 1.0 = EUR 0.88)

Coal

Indonesia’s Bukit Asam aims coal gasification from new plants by 2024

24 June 2019

–

Indonesia

NUSA DUA, Indonesia: Indonesian state coal miner PT Bukit Asam expects coal gasification from first of its four plants being built by the company near its mine in Tanjung Enim, South Sumatra by 2024, a company official said on Monday.

The factories are being constructed in a consortium with state energy company Pertamina, state fertilizer producer PT Pupuk Indonesia, and petrochemical company PT Chandra Asri Petrochemical, director Fuad Fachroeddin, said at an industry conference in Bali. The commercial production for all these units will begin in 2024.

The plants will absorb 8 million tonnes of coal per year, as feed stock as well as for power generator for the plants and Bukit Asam is estimating commercial production to start in 2024.

Rest of the units will process the gas into urea, dimethyl ether (DME) and polypropylene, a material to make plastic, Fachroeddin said.

“This DME will be used as a substitute for liquefied petroleum gas (LPG) or as blending material for LPG,” he told Coaltrans conference participants, adding that Indonesia consumes around 7 million tonnes of LPG per year which are mostly imported.

The coal miner is currently finalising its study to develop the downstream industry for coal to produce these products.

Separately, Bukit Asam will also develop another DME plant in Riau province that is expected to consume 8.7 million tonnes of coal per year.

News Clipping

User Dashboard

Back To ACE

User Dashboard