The areas sought are then put on auction.
Many Americans are getting "disaster fatigue" as the requests to donate money to various relief efforts never seem to end. There has never been a time in recent history when we have seen so many natural disasters compressed into such a short period of time. So exactly what is going on here? Is something causing all of this or is this all one big coincidence? Whereas some of the article is controversial (i. e. no such thing as global warming) it is thought-provoking none-the less. The article made me think and come up with some likely suspects: Are the current natural disasters caused by changes in the energy output of the sun? Is the earth's core changing, resulting in significant volcanic activity which in turn is causing seismic activity. And what about polar shift? As a layman, I don't have answers but I do have a curious mind so I continue to read and make an attempt to understand this world I live in. And of course, I try to prepare for the worst by keeping my cupboard stocked, my water barrels filled, and my mindset aware of the changes that are affecting our way of life.
The 2006 and 2009 gas fights led both sides to reconsider their dependency on the other. Gazprom began to develop plans for and build undersea pipelines to Germany and Turkey to circumvent Ukraine. By 2021, Gazprom will need Ukrainian pipelines to move, at most, relatively marginal amounts of gas. For their part, Ukrainians began taking steps to substantially reduce gas consumption and their energy dependency on Russia. Rising prices for Russian gas motivated companies to install energy-efficient equipment. Ukraine now consumes about 30 bcm of gas per year (it no longer provides gas for Crimea, which Russia illegally seized in 2014, or for that part of the Donbas region occupied by Russian and Russian proxy forces). Less than one-third of the 30 bcm is imported, and since 2015, Ukraine no longer imports gas directly from Russia, getting gas instead from Poland, Hungary, and Slovakia (ironically, much of this gas is Russian gas exported to Central Europe, from where it is exported back to Ukraine).
When Centrica signed a deal to buy gas from Louisiana in 2013, the deal was hailed by the British Gas owner as a "landmark agreement" that would help to "ensure the UK's future energy security". Yesterday the company said that the first cargo of liquefied natural gas it had purchased from the site in America's Deep South had finally set sail — a year later than planned and destined for France. The shipment is the first under a 20-year contract with Cheniere to buy gas from its Sabine Pass liquefaction plant, one of several new developments exporting abundant fracked gas from the United States. Centrica, a FTSE 100 group with profits of £1. 4 billion in 2018, is Britain's biggest household gas supplier. It also has
A second fight broke out in January 2009. Moscow again reduced and then ended all gas flows to Ukraine, including transit gas. This time, the dispute lasted three weeks. During a bitterly cold stretch of weather, the cut-off caused particular hardships for Romania, Bulgaria, and Greece. A Changing Gas Relationship The gas relationship between Ukraine and Russia has been complex, and it has changed dramatically over the past three decades. After regaining independence in 1991, Kyiv depended hugely on gas imports from Russia or from Central Asia via Russia—50-60 bcm per year—as its domestic production met only one-fourth of Ukraine's needs. That dependence gave Moscow leverage over Ukraine. Kyiv nevertheless had leverage over Russia, which needed Ukraine's pipelines to move gas to Europe. The European market mattered greatly for Gazprom. In the late 1990s and early 2000s, the Russian energy giant sold one-third of the gas it produced to Europe. Most of Gazprom's gas was sold inside Russia at artificially low prices, so European sales were key to the company's financial health.
If it has no gas sales to Ukraine, it can still end transit through the country, cutting off the substantial transit fees (about $3 billion per year) that it now pays Kyiv. Russia has proposed a one-year agreement, apparently to bridge from the end of 2019 to the beginning of 2021 when it hopes to have Nord Stream 2 and Turk Stream operating at full capacity. At that point, Gazprom could all but end gas transit via Ukraine. If Kyiv rejects a one-year agreement, which looks quite possible, negotiations could quickly hit an impasse, and the possibility of another disruption in gas flows to Europe will arise. Finding a solution to avert such an outcome confronts EU negotiators with a tough challenge.
One popular and early formulation is the indexing of LNG contracts to the Japan Crude Cocktail (JCC) price. JCC represents the average price of crude oil imported to Japan and reported by Japanese customs. JCC indexation is still the most common way LNG contracts in Japan and other legacy buyers in the region, including South Korea and Taiwan, are priced. Most long term contracts out of Malaysia, Australia and Indonesia have largely been based on the JCC index. LNG producers wanted the security of long term contracts based on oil prices to help fund new capex intensive production projects. However, over the last few years due to a glut of the fuel mostly from production ramp-ups in Australia and the US, expensive oil pricing indexes and longer-term contracts have been called into question, renegotiated and even abandoned. LNG spot prices in Asia, for their part, have hit prices well beneath most producers' break-even points this year, adding incentive to other market participants looking to take advantage of the rock bottom prices.
DA NANG – Developments in Asia's liquified natural gas (LNG) markets could change the way the fuel is priced for long term deals, putting more pressure on already distressed producers scrambling to cover costs while offering new opportunities for deal-seeking buyers. New Delhi-based Petronet LNG, India's largest LNG importer, said on Tuesday (June 30) that it was close to striking a 1 million ton per annum (mtpa) procurement deal for the super-cooled fuel at a price near spot or daily rates. If consummated, the long term deal would be unprecedented in its pricing. "We are very close to a long-term deal on the daily benchmark, " Petronet LNG CEO and Managing Director Prabhat Singh told a news conference. Singh refused to give details of the supplier but said the company aimed to further increase its capacity depending on the customer's response. He added that nearly 13 LNG producers have recently shown interest in supplying fuel to the country. Shefali Shokeen, a New Delhi-based LNG analyst, told Asia Times that even though Petronet hasn't yet disclosed the tender price details, the company did issue a Request for Information document in February and were looking for LNG sellers to supply the fuel from 2024 for a ten-year period.
As such, Asian spot LNG will likely reach around $3/MMBtu toward year's end and could trend marginally higher after the new year sets in. Global commodities data provider S&P Global Platts sees JKM-LNG derivatives as pricing in a stronger market for the autumn months, with September and October swaps settling on June 24 at $2. 63/MMBtu and $3. 03/MMBtu, respectively. That's by any measure still quote bearish for LNG spot market prices.
ONGC won all six blocks where it was the sole bidder and also the one block where Invenire Petrodyne had bid. The previous bid round, OALP-IV, too had seen just eight bids coming in blocks on offer. ONGC had walked away with all the seven Prior to OALP-V, the government had awarded 94 blocks in four OALP bid rounds since 2017. These 94 blocks cover an exploratory area of about 1, 36, 790 sq km over 16 Indian sedimentary basins. In the latest bid round, about 19, 800 sq km of the area was offered for bidding, he said. At the time of the launch of OALP-V, DGH had stated that the round is expected to "generate immediate exploration work commitment of around USD 400-450 million". Of the 94 blocks awarded in the first four rounds of OALP, Vedanta has won the maximum at 51. Oil India Ltd has got 21 blocks and ONGC another 17. After OALP-V, ONGC 's tally has gone up to 24 and that of OIL to 25. Under OALP, companies are allowed to carve out areas they want to explore oil and gas in. Companies can put in an expression of interest (EoI) for any area throughout the year, but such interests are accumulated thrice in a year.
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