Thailand invests in rooftop solar to protect against LNG price shocks
Akanat PROMPHAN, Thailand's Energy Minister, said that the country will assist 1 million households in installing 5 gigawatts of rooftop solar panels by year-end to protect citizens from soaring energy prices caused by the Iran War. This move is financed through a 200 billion Baht ($6.01billion) emergency energy transition fund.
Minister: Thailand supports rooftop solar to protect against LNG price spikes
Akanat Promphan, Thailand's Energy Minister, said on Wednesday that the country will assist the public in installing 5 gigawatts of rooftop solar panels by the end of the year. This will?protect a million homes against the soaring prices for energy caused?by conflict in the Middle East?. The plan will be financed by a 400-billion-baht emergency borrowing decree ($12.02 billion)…
Myanmar to restart controversial $3.6 billion dam project supported by China
Two sources familiar with the comments of Khet Htein, head of state administration, have confirmed that Myanmar's new Government aims to complete in eight years an infamous $3.6 billion project at Myitsone, located in northern Kachin State. The comments were made after former junta leader and now president Min Aung Hlaing, returned from a trip to China?last week.
China's refined oil exports to Australia in May rose from April despite restrictions
China's gasoline, diesel, and?jet-fuel exports to major destinations in Southeast Asia and South Asia increased from April, but they were still a significant amount less than one year earlier because of?export restrictions imposed due to the Iran War to protect domestic supply. Customs data released Saturday shows that refined…
Andy Home: Investors are still betting on scarcity despite the rebalancing of ROI-Tin
What can tame a wild tin industry? The London Metal Exchange's (LME) smallest base metal contract continues to defy the market. LME 3-month tin trades?at $55,225 a metric ton. This is close to the previous all-time record of $59,040, which was reached during the febrile cross-metals rally that took place in January. In March 2022 metal prices rose in response to Russia's invasion of Ukraine.
Andy Home: Investors are still betting on scarcity despite the rebalancing of ROI-Tin
What can tame a wild tin industry? The London Metal Exchange's (LME) smallest base metal contract continues to defy the market gravity. LME 3-month tin trades at $55,225 a metric ton. This is close to the previous all-time high of $59,040, reached during the febrile cross-metals rally that took place in January. In March 2022 metal prices soared as a result of Russia's invasion of Ukraine.
Thailand orders bureaucrats in its energy-saving drive to use stairs instead of elevators and to work from home
A government spokesperson said that the Thai Prime Minister Anutin Charnvirakul had ordered civil servants to conserve energy due to the energy crisis caused by the Middle East conflict. This included suspending overseas trips and using the stairs instead of elevators. Lalida Periswiwatana, a spokesperson for the prime minister, told reporters that civil servants must now work from home.
Thailand increases fuel reserves and tries to secure LNG amid Iran Crisis
Thailand's Prime Minster Anutin Charnvirakul called a meeting on Thursday of the energy agencies as concerns grew about supply in case the war with Iran disrupted global shipping. After the meeting, Energy Minister Auttapol Rerkpiboon said that Thailand will increase its mandatory fuel reserve to 3% and not 1%. Auttapol stated that "our reliance on Qatari LNG…
US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts for more demand than previously expected over the next two weeks.Front-month gas futures for January delivery on the New York Mercantile Exchange rose 15.3 cents, or 4%, at $4.105 per million British thermal units by 08:59 AM ET. Priced ended 0.5% lower on Monday.
Analyst: Myanmar to resume LNG imports following cargo received last month
Myanmar will resume LNG imports in 2019 after receiving half of a cargo of the super-chilled fuel last month. This marks an end to a four-year-long hiatus of shipments. After the civil war, shipments of LNG to Southeast Asia were stopped. Since then, Myanmar has experienced gas shortages and widespread blackouts. Analyst Nelson…
Serra Verde cancels China offtake deal after being approached by Western firms
Serra Verde, a Brazilian rare earths mining company, has reduced the contract durations of its Chinese processing agreements, allowing it to potentially supply Western companies once their separation capacity is available in the coming years. China is the largest supplier of rare earths in the world, and 90% of it is processed.
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components…
Interra claims that oil contract was signed with Myanmar before the junta took power
Interra Resources, a Singapore-listed oil explorer, said Thursday that a production sharing contract between its subsidiary in Myanmar and a government-controlled entity was extended several years before 2021. The statement was made in response to an inquiry by the Singapore Exchange, a week after Justice for Myanmar claimed…
Nepal exports first electricity to Bangladesh through India's grid
Nepal began exporting 40 Megawatts (MW), of electricity to Bangladesh via India's grid, marking its first entry into the international market for energy and positioning India as an important facilitator of regional electricity trade. Nepal exports 80 MW of power to Bihar in India's eastern region, said Nepal's Energy minister Dipak Khadka on X Sunday.
LNG to FSU Conversion Completed at Sembcorp
Ship managers Synergy Group converted a 1992-built, 126,000 cubic meters capacity Liquefied Natural Gas (LNG) carrier into a Floating Storage Unit (FSU). The conversion was performed at Sembcorp Marine’s Admiralty Yard in Singapore.Synergy will manage, maintain and operate the FSU, which has a projected lifespan of 15 years.
India to Continue Buying Russian Oil Despite US Tariffs
India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow.As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine…
Legal advisor: Interra Resources did not violate foreign sanctions in Myanmar
Interra Resources, a Singapore-listed oil explorer, said that it appointed a legal adviser who found that Interra Resources had not violated U.S. sanctions or EU sanctions against Myanmar. The report comes after the activist group Justice for Myanmar made allegations that Interra supplied oil to the ruling military and committed war crimes.
B.Grimm Power, Thailand's B.Grimm Power, seeks LNG supply for short- and long-term periods
A company executive revealed at the Asia Gas Markets Conference on Tuesday that B.Grimm Power, Thailand's largest power firm, is looking to purchase five to seven cargoes of liquefied gas for delivery between 2025 and 2026. Andrew Kirk, B.Grimm Power's head of LNG, has said that the company is looking to secure a long-term LNG deal of up to one million tons after these initial short term cargoes.
A group of armed men claims to have taken control of the rare earth mines in Myanmar
A group of rebels fighting Myanmar's ruling army has claimed control of a mine hub, a major supplier to China of rare earth oxides. This will likely disrupt shipments of materials used in clean technology and other technologies. In Kachin State, around the towns Panwa & Chipwe and adjacent to Yunnan Province in southwestern China, rare earth mining is concentrated.
Thailand sets record for annual drop in power output and LNG imports
Thailand's electricity production is expected to drop by a record amount this year due to a mild winter and a slowed economy, according government data. This will result in Southeast Asia’s largest LNG importer experiencing its steepest fall in fuel purchases. Official data revealed that the power generated and imported by…