Asia Pacific
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A month after it got out of Norway, Bloomberg reports that the company is working with advisers on a potential Malaysian sale, which could raise as much as $3 billion. ExxonMobil plans to divest around $15 billion in nonstrategic assets by 2021. -
The decision follows a previous $10-billion investment in LNG the country made in 2017. While that investment focused on outside energy supply sources, this one will be used to develop infrastructure in Southeast Asia and the Indian subcontinent.
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Located offshore the city of Batangas, approximately 2 hours south of Manila, the Luzon LNG project will include a fully integrated turnkey FLNG terminal, arranging the necessary supply of LNG and distribution of natural gas across the island of Luzon.
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ModuSpec, a drilling rig inspection, auditing, and training services company, re-emerges as an independent operating company following a strategic restructure of Lloyd’s Register. It will focus on the Middle East and Asia, as well as Egypt, Uganda, and Kenya.
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The acquisition will add to the group’s offerings aimed at environmental impact assessments and project approvals.
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The next big wave of decommissioning and abandonment projects is set to occur in the Asia-Pacific region, and APAC’s operators are now tasked with finding cost- and time-effective ways of unwinding their huge agglomeration of wells and facilities.
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This paper discusses how demand for LNG has affected shipping routes as well as trade issues between the suppliers and importers of natural gas.
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DNV estimates that gas will be the world’s primary energy source by the mid-2020s. Growth in LNG capacity is expected as the midstream sector invests in connecting shifting sources of gas with changing demand centers. Other factors also will drive the globalization of gas trading markets.
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LNG as a fuel source has been an energy staple for many Asia-Pacific countries for decades, and is increasing in importance in other regions as countries look to diversify their energy mix.
