Page 8 - AsianOil Week 45
P. 8
AsianOil SOUTHEAST ASIA AsianOil
Pavilion Energy Trading & Supply, covering in mid-2025. QP had subscribed to some 7.2mn
1.8mn tpy of supplies over a 10-year period, the tpy of import capacity at the site in southern
company said. England, enabling it to make greater inroads into
The agreement was reached following a com- the UK gas market.
petitive process. Al-Kaabi said the deal reflected Pavilion Energy not only imports LNG
the “commitment to respond to the needs of our into Singapore but also has its own LNG
customers, including supply security, price com- bunkering network in the Asia-Pacific
petitiveness and flexibility.” area. It recently made a pact with Finland’s
The latest contract comes after QP last month Gasum on using each other’s LNG bunker-
secured 25 years of storage and delivery capac- ing infrastructure and supply capabilities in
ity at the UK’s Grain LNG terminal beginning their respective regions.
EAST ASIA
Sino-Australian spat sinks LNG stake sale
FINANCE & DETERIORATING bilateral relations between at this point due to the relations between
INVESTMENT China and Australia have forced Woodside China and Australia,” Coleman said. “So,
Petroleum to shelve plans temporarily to sell a we’re a little frustrated and disappointed
stake in a liquefied natural gas (LNG) project and by that. But we’re hopeful that things will
associated gas field to Chinese investors. improve and we’ll be able to get them back
Woodside CEO Peter Coleman told Reu- to the table.”
ters on November 12 that the diplomatic Coleman said the frayed relations had not
rowed had forced the company to walk away hurt the company’s existing partnerships with
from talks to sell a “modest” stake in the Pluto Chinese companies in Australia and Myan-
LNG Train 2 project and Scarborough field to mar, which he described as “very good”.
PetroChina and some other investors several When asked whether the spat would
months ago. He added, however, that he still likely affect Chinese investor interest in
held out hope that the talks could be revived Woodside’s planned sell-down of its stake in
once relations had improved. the Sangomar oil project in Senegal, Cole-
Australia and China have seen tensions man said: “No. The Australia-China thing is
mount since the coronavirus (COVID-19) very specific to investments in Australia. It’s
outbreak, which led Australia to lobby for an not a general issue.”
independent inquiry into the pandemic’s ori- The newswire cited a new report by Aus-
gins. China has retaliated with various trade tralian consultancy EnergyQuest as saying
actions that have included tariff hikes on bar- the two countries’ LNG trade had escaped the
ley and the delay of rock lobster shipments at political skirmish and that this was likely to
point of entry. continue. EnergyQuest estimated that China
“They advised us a couple of months had imported 23.5mn tonnes of Australian
ago that they were just not able to proceed LNG in the first 10 months of this year.
P8 www. NEWSBASE .com Week 45 12•November•2020
