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☆ Malaysia's Petronas launches first commercial 5G private network - Deputy PM
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: 1 min

A logo of Petronas is seen at their office in Kuala Lumpur, Malaysia, April 27, 2022. REUTERS/Hasnoor Hussain/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 6 (Reuters) - Malaysia state energy firm Petroliam Nasional Berhad (Petronas) on Friday launched the country's first commercial private 5G network, a deputy prime minister said. "The deployment of the PETRONAS 5G Private Network sets the stage for a dynamic partnership between the government, private sector, and academia," Fadillah Yusof said. Reporting by Rozanna Latiff; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Hasnoor Hussain, Fadillah Yusof, Rozanna Latiff, Martin Petty Organizations: Petronas, REUTERS, Petroliam Nasional Berhad, Friday, PETRONAS 5G Private Network, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Petroliam

☆ Indian EV cell maker Log9 flags production hit on delayed visas to Chinese experts
▼ + stars: | 2023-08-28 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

"If the Chinese engineers don't arrive on time, then our cell line production will get impacted," Log9's co-founder and director, Pankaj Sharma, told Reuters. A delay of about four months in the issue of visas would hamper the speed at which its factory reaches peak production levels, Sharma said. Log9's Bengaluru factory, its only manufacturing unit currently, has an annual installed capacity of 250 MWh of battery production. Log9 has sold over 1,000 battery units so far in 2023 after clocking sales of 4,000 units last year, according to Sharma, who declined to disclose the production figures. The company will begin the next funding round by the end of this year or early next year, Sharma said.

Persons: Pankaj Sharma, Sharma, Amara Raja, Rama Venkat, Dhanya Skariachan, Eileen Soreng Organizations: Reuters, Maersk, Blue Dart Express, Quantum Energy, Hala, Malaysia's Petronas, Thomson Locations: BENGALURU, Bengaluru, New Delhi, China, India

Key hurdles for the two projects include the country's caps on domestic gas prices, limits on gas exports and the high costs for carbon capture and storage - required for new gas projects to help fight global warming. Last month, Shell (SHEL.L) said it would sell its holding in the Masela project to Indonesia's Pertamina and Malaysia's Petronas, while Chevron (CVX.N) agreed to sell its stake in the IDD project to Italy's Eni (ENI.MI). Reuters GraphicsNEW TERMS NEEDEDOnce one of the world's top five liquefied natural gas (LNG) exporters, Indonesia's LNG exports have halved in the past decade, Kpler data showed. The country has not approved a major oil or gas project since 2016 - the expansion of BP's (BP.L) Tangguh LNG plant. The current formula for splitting revenue between the government and investors in gas projects sets the base rate at 48% for companies.

Persons: magnifier, Dado Ruvic, Benny Lubiantara, Andrew Harwood, Wood Mackenzie, SKK Migas, Benny, Prateek Pandey, Takayuki Ueda, Naing, Inpex's Ueda, Fransiska Nangoy, Bernadette Christina Munthe, Emily Chow, Yuka Obayashi, Florence Tan, Sonali Paul Organizations: REUTERS, Indonesia, Shell, Chevron, Indonesia Deepwater Development, Petronas, Eni, Essential Services, Reuters, Indonesia Petroleum Association, Rystad Energy, BMI Research, Fitch Group, Tcf, Thomson Locations: Indonesia, JAKARTA, Jakarta, Chevron, Tokyo, Masela, Singapore

☆ Indonesia's Pertamina, Malaysia's Petronas aim to take over Shell's Masela stake
▼ + stars: | 2023-06-26 | by ( Emily Chow | ) www.reuters.com time to read: 1 min

KUALA LUMPUR, June 26 (Reuters) - Indonesia's state energy company Pertamina and Malaysia's Petroliam Nasional (Petronas) plan to jointly take over Shell's participating interest in the Masela gas project, Indonesia's energy minister said on Monday. Shell currently has 35% of the shares in the project and authorities are keen for the companies to complete the deal to move the project forward after years of delay. "They are both doing the negotiation," the minister, Arifin Tasrif, told Reuters, referring to Pertamina and Petronas. "They have to finalise what kind of joint scheme they are preparing," he said on the sidelines of an Energy Asia conference. Reporting by Emily Chow, Writing by Fransiska Nangoy Editing by Shri Navaratnam, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Shell, Arifin Tasrif, Emily Chow, Fransiska, Shri Navaratnam, Robert Birsel Organizations: Petronas, Reuters, Energy, Thomson Locations: KUALA LUMPUR, Petroliam Nasional, Energy Asia

The five-phase project to integrate gas production, storage, pipeline transportation and liquefaction is key for the South American country to monetize its vast reserves and become an exporter on liquefied natural gas (LNG). A delegation of technicians from Petronas traveled to Argentina in February to plan for the project. Drilling rigs could be imported for the upstream portion of the gas project as Argentina struggles to secure specialized equipment, YPF Chief Executive Officer Pablo Iuliano told journalists at the CERAWeek conference in Houston. If the decision is yes, then construction could begin between late 2023 and early 2024,The gas project with Petronas, the oil terminal and a two-phase gas pipeline connecting Vaca Muerta to the country's Northern region are needed to boost the country's oil and gas output and exports. Oil and gas producers expect the government will send draft legislation for promoting LNG production to Congress in the coming weeks, Iuliano said.

☆ Argentina's YPF could raise debt in 2023 to back Vaca Muerta push, source says
▼ + stars: | 2022-12-02 | by ( Eliana Raszewski | ) www.reuters.com time to read: +2 min

Companies Ypf Sa FollowBUENOS AIRES, Dec 2 (Reuters) - Argentina's YPF (YPFD.BA) could make a return to debt markets next year, a company source said on Friday, as the state energy firm looks to spur growth in the country's huge Vaca Muerta shale region. YPF leads development of Vaca Muerta, a Belgium-sized formation in Patagonia's Neuquen province, which could in a few years help the country reverse a multi-billion dollar energy deficit and become a net energy exporter, analysts say. YPF is likely to invest a bit over $5 billion next year, up from $4.1 billion this year, according to the source. Looking to benefit from gas exports, YPF in September signed a deal with Malaysia's Petronas to advance a new pipeline set to link Vaca Muerta with a liquefied natural gas (LNG) plant. "Once the law is in place, the confidentiality agreement ends and the two parties will meet with the Vaca Muerta gas producers."

☆ Factbox: North Asia gears up for peak winter energy demand season
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

Nov 3 (Reuters) - Key North Asian economies are stockpiling fuel, diversifying sources and conserving power to ensure adequate supplies for winter, as an unprecedented global energy crisis makes spot liquefied natural gas (LNG) purchases costly. * City gas providers held 2.54 million tonnes at end-August, ministry data shows, versus 1.97 million tonnes a year earlier and also above a five-year average. * South Korea's LNG stocks stood near 3.9 million tonnes at end-September, a source with knowledge of the matter said. * Households and businesses are being encouraged to reduce energy consumption through incentives like tax cuts, though details have not been announced. CHINA* China is expected to stay clear of spot LNG purchases this winter due to higher prices and slow demand growth amid COVID-19 curbs.

☆ Australia rules out curbs on gas exports after producer deal
▼ + stars: | 2022-09-29 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

MELBOURNE, Sept 29 (Reuters) - Australia will not put curbs on gas exports after reaching a deal with its three east coast producers of liquefied natural gas (LNG) to avert a forecast supply crunch, Resources Minister Madeleine King said on Thursday. The pact unveiled on Thursday provides for Queensland Curtis LNG, run by Shell, Australia Pacific LNG, run by ConocoPhillips (COP.N), and Gladstone LNG, run by Santos (STO.AX), to offer an extra 157 petajoules of gas to the domestic market next year. The terms require the LNG exporters to offer uncontracted gas to the domestic market before international buyers and ensure domestic buyers will not pay more for uncontracted gas than customers offshore. This is because it is the only east coast exporter to take more gas out of the domestic market each year than it supplies. GLNG agreed to step up domestic supply during Australia's peak winter demand period, Santos said.

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