Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
LNG could be the answer for ASEAN
by Daniel J. Graeber
Washington (UPI) Sep 27, 2017


After 50 years, the Association of Southeast Asian Nations need to coordinate on energy issues and consider LNG as a basis for cooperation, analysis finds.

The ten Southeast Asian states that make up the bloc combine for $2.8 trillion in gross domestic product, which if united would make it the sixth largest economy in the world. As of this year, it had 208 gigawatts of power capacity installed and needs more than twice that much by 2035 to keep up with demand.

"We estimate around $500 billion investments will be needed to build the much needed power capacity," Edi Saputra, a regional gas and power analyst at consultant group Wood Mackenzie, said in an emailed report. "With the region lacking the internal capital, it becomes a strong magnet for foreign direct investments."

The pace of development in Southeast Asia means electricity consumption is on pace to grow by more than 8 percent each year for at least the next 10 years and the emerging economies in the region are searching for new ways to access power. In Myanmar, only about 30 percent of the country's rural population has access to a reliable source of energy and the government needs to build up the grid for 40,000 villages to meet its goal.

Wood Mackenzie said it would be liquefied natural gas that could facilitate the type of cooperation needed to keep the ASEAN relative after 50 years. While there are emerging bilateral pipeline connections, Saputra said the region needs to play catch up.

"LNG has changed the regional gas landscape, exposing ASEAN to the global LNG dynamics," he said. "ASEAN needs to shift its focus towards LNG cooperation, in building virtual pipeline interconnections, instead of dwelling on the uncertain initiative."

Wood Mackenzie estimates regional demand for LNG to triple within the next 10 years.

Singapore-listed KrisEnergy in August signed documents outlining plans to develop the Aspara area in the Cambodian waters of the Gulf of Thailand. The company said the oil deposits in the concession area are small, spread out and may require significant investments and a long-term commitment to develop fully. Vietnam and Myanmar already enjoy offshore reserves, though Cambodian waters are relatively untested.

The region in question could hold as much as 50 million barrels of reserves.

OIL AND GAS
Texas oil production slightly lower, early data show
Washington (UPI) Sep 26, 2017
Crude oil production reported to the state energy regulator in Texas for July was slightly lower than last year, preliminary data show. Texas is the No. 1 oil producer in the nation and at least parts of four of the seven active shale basins in the country lie within its borders. The Railroad Commission of Texas, the state's energy regulator, reported total crude oil production from Aug ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Researchers discover unique property of critical methane-producing enzyme

New biomaterial could replace plastic laminates, greatly reduce pollution

Illinois researchers develop gene circuit design strategy to advance synthetic biology

Re-engineering biofuel-producing bacterial enzymes

OIL AND GAS
Flexible semitransparent solar cells made from atomically thin sheet

Solar Power Lights Up Amazon Communities Fighting Dirty Energy

Green Bank Network totals over $29 Billion for clean energy projects around the World

Antigua's well-built PV systems sustain impact of hurricane Irma

OIL AND GAS
French energy company to build wind power sector in India

Finding better wind energy potential with the new European Wind Atlas

Last of the 67 turbines for a British wind farm installed

Kimberly-Clark next U.S. company to draw more on renewables

OIL AND GAS
Russia floats out powerful nuclear icebreaker

UAE to open Arab Gulf's first nuclear reactor in 2018

Against rising headwinds, UK pushes ahead with nuclear projects

Russia's use and stockpiles of highly enriched uranium pose significant nuclear risks

OIL AND GAS
Science denial not limited to political right

Canada Tory MP called out for referring to minister as 'climate Barbie'

US looks to work with Paris climate accord 'partners': Tillerson

Climate risk classification created to account for potential 'existential' threats

OIL AND GAS
Carmakers face billions in European CO2 fines from 2021: study

Dockless bike-share hits US capital, following craze in China

Baidu announces $1.5 bln fund for autonomous driving

China rises at Frankfurt car show

OIL AND GAS
Iraq forces oust IS from northern town in drive on Hawija

Tribes, tradition stand in way of Iraq police

Iraq brings all remaining IS territory under attack

Pilgrims bring boom times for Iraqi gem traders

OIL AND GAS
US, N. Korea brinksmanship brings warning of 'unpredictable nosedive'

US warplanes fly off NKorea coast; China says quake not nuke test

China experts say 3.4-quake hits N.Korea in 'suspected explosion'

China confirms will limit oil exports to North Korea




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement