China, Korea Oil and Gas

Conditions on Asian gas market may become unprofitable for Russia

South Korean company Korea Gas Corp (Kogas) is going to challenge the terms of a long-term contract with the North West Shelf project operator for the supply of liquefied gas.

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Gazprom to increase supplies to the East

At the last meeting of Gazprom's board of directors it was noted that in the conditions of growing energy consumption in the world there would be a growing need for traditional types of fuel.

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In January-June, export of plastic products in Russia grew by 15.4%

According to customs statistics, in January-June 2015, foreign trade turnover of Russia made up $270.7 billion and it decreased by 32.6% in comparison with January-June 2014. The trade balance showed a surplus of $95.3 billion, which is by 16.7 billion less than in January-June 2014.
In January-June 2015, the export of Russia amounted to $183.0 billion, decreased by 28.8% as compared with January-June 2014. In January-June 2015, the basis of the Russian export to the non-CIS countries was fuel and energy products, the share of which in the commodity structure of the export to these countries amounted to 68.1% (in January-June 2014 - 75.3%).
In January-June 2015, the cost volume of energy products decreased by 34.5% as compared with January-June 2014, and the physical - increased by 10.3%. Among the energy goods the volume of exports of crude oil increased by 11.5%, electricity - by 25.0%, oil products - by 20.2%, including: kerosene - by 39.3%, diesel fuel - 18.0%, liquid fuels - by 23.5%. At the same time, the export volume of natural gas was reduced by 4.1%, coal - by 1.2%.

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In 2015, Japan to import record volume of Russian oil

Japan can import a record volume of Russian oil this year due to low prices, proximity to the supplier and high refining margins, the Reuters reports.
In January, the oil import from Russia increased by 63%, and the growth in the supply will help Japan to reduce its dependence on Middle Eastern oil, on which almost 95% of the import fall.
Sources note that it is convenient for Japan, ranked the fourth in the world in terms of the oil import, to buy Russian fuel, which can be deliveredduring a few days, while the supplies from the Middle East take about three weeks.

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By 2035, Russia to increase gas supplies to the Asia-Pacific region 9 times

Alexander Novak has said that by 2035 the volume of gas supplies from Russia to the countries of the Asia-Pacific region will increase 9 times.

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Export of Russian oil to China, South Korea and Japan grows by 25%

In 2014, Russia grew oil supplies to China, Japan and South Korea by a quarter, increased its share on the Asia-Pacific market to 8.7%. Here, domestic manufacturers were able to compete with the Gulf countries, share of which among exporters on the local market decreased in the past year.
In 2014, Russia increased the volume of oil supplies to China, Japan and South Korea by 10 million tons, which is equivalent to the growth of 25%. Thus, as the Bloomberg reports, referring to government data, the share of the supply of the domestic companies to market of the three largest Asian oil importers increased from 7.2% in 2013 to the current 8.7%.

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Kozmino will continue dispatching of extended oil volumes for exports in September

They won’t be influenced by restart of oil refining at the Achinsk plant.
The special sea oil port of Kozmino, the final point of ESPO system, will continue the dispatch of extended oil volumes for exports in September, the official representative of Transneft, I. Dyomin says. Exports won’t decline after the restart of oil refining at the Achinsk plant for at least the next 2 months.
ESPO mix dispatches increased after the breakdown at the Achinsk oil refinery. They reported in July that the current transporting capacity of ESPO system enables to transport 24.5 – 24.6 million tons of oil this year because of the absence of oil collection for the Achinsk oil refinery.
Now the Achinsk oil refinery does not takes oil due to the breakdown. If this volume is dispatched for exports, 1.2 million tons more could be added in Kozmino this year, Mr. Dyomin says. Supplies won’t be influenced by the restart of oil refining at the Achinsk plant. In September, the oil refineries start mass repairs. It will lead to the release of additional volumes for exports for at least 2 months, September and October, and it’s hard to predict now whether the tendency will prolong into November.

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Chinese company increases the capital stock of its subsidiary to support “Yamal LNG”

The capital of “CLNG” will be increased by $149 million to support the project “Yamal LNG”. The Chinese company “China Merchants Energy Shipping” stated.
In July, CLNG and Teekay LNG Partners signed an agreement on the construction of 6 tankers-gas carriers with the capacity of 173 thousand cubic meters of LNG for transportation of gas (Yamal LNG project). They will be built on the Korean dockyard and supplied within the period from 2018 to 2020, IA Sever-Press reports.

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