Thursday, November 22, 2012
Saturday, November 17, 2012
Saturday, November 3, 2012
Labuan Shipyard hopes to become regional leader
Its chief executive officer, Mohd Azman Nasir, said LSE was now marketing its services internationally, with the focus on India, Vietnam, Myanmar, Thailand, China, Indonesia and Middle East.
“We are bidding for jobs in these countries in line with our mission to go international. With the inclusion of Sapuracrest on board, we are now able to bid for mega jobs in these countries,” he told Bernama here yesterday.
SapuraCrest Petroleum Bhd’s unit, SapuraCrest Ventures Sdn Bhd, has acquired a 50 per cent stake in LSE. Petra Energy Bhd’s wholly-owned unit, Petra Resources Sdn Bhd, has also signed a memorandum of understanding with LSE for the proposed utilisation of the latter’s shipyard facilities at Victoria Harbour, Labuan.
“Apart from Petra Energy, we are also working with Kencana Petroleum Bhd.LSE is open to partnerships with others also,” he said.
Meanwhile, Mohd Azman said, LSE was also considering collaborating with over 20 small fabricators currently operating in Labuan by allowing them to use the company’s yard.
“Some small fabricators are now operating in small workshops and some of them have declined jobs as they are not able to carry our big jobs due to their capabilities.
“They have good network and connection and we have invited them to undertake their jobs in our yard,” he said.
Mohd Azman said LSE would focus on its core fabrication business before venturing into other fields.
“What I want to do now is to make sure LSE is on the right track with the right partners and after that we will diversify,” he said.
He said Labuan would soon become a premier oil and gas centre in the region with the support of the federal government coupled with the discovery of new oil fields off Sabah waters.
“The development of oil and gas in Labuan has greatly helped supporting industries on the island.
“And the booming of this sector has positioned our yard in the right place and at the right time,” he said.
Mohd Azman said LSE would focus on human capital development in view of the development of the sector.
He said apart from fabrication, LSE has the capacity to build and repair hundreds ships a year.
“We are headhunting for people with skills and experiences all over the country and are taking part in job fairs and exhibitions,” he said. — Bernama
Thursday, November 1, 2012
Demand for gas in Asia to increase
SINGAPORE: The demand for liquified natural gas (LNG) is expected to increase in Asia, and Singapore is set to tap the significant market growth, says International Enterprise (IE) Singapore chief executive officer Teo Eng Cheong.
“For the growth of Asia’s LNG industry to remain strong, the marketplace needs a dynamic environment. As Asia’s top oil hub, Singapore is well positioned to also be the regional hub for LNG.
“Today, Singapore is the gateway to key LNG markets.
“More than 400 petroleum and petroleum trading companies are already based here,” he said in his address at the opening of the World LNG Series: Asia Pacific Summit here yesterday.
Teo said while Singapore may not be a major LNG consumer or supplier, it had seen strong and steady growth in its LNG trading sector in recent years.
Shell was among the first energy majors to establish LNG marketing and trading activities in Singapore while other key players include BP, BG Group and Gazprom.
Teo said more energy companies have also started new LNG trading businesses here.
“Just this year, we witnessed new entrants to the cluster, including Gunvor, Vitol, and PetroChina.
“We are very encouraged by this progress.
“It showcases the potential of the LNG industry in playing a greater role in contributing to Singapore’s economy.”
“Many projects that are set to boost the growth of our LNG eco-system are already in the pipeline,” he said, adding that the construction of Singapore’s first LNG terminal is on track to commence commercial operations by mid-2013.
As the government agency responsible for promoting the republic’s trade, Teo said IE Singapore will continue to work with interested players to facilitate entry and growth of their operations in Singapore.
Teo said the long-term outlook for gas market was also strong as countries were diversifying their energy sources by seeking alternatives to oil and coal, and are switching to cleaner fuels like petrol gas.
By 2030, he said natural gas demand is projected to increase by 60 per cent to overtake coal in the global energy mix, to become the second most dominant source of energy globally.
He also pointed the global use of nuclear as an energy source has slowed significantly since Japan was hit by a tsunami and earthquake in March.
Most of the future action, he said would be seen in emerging markets.
He said 80 per cent of the growth is expected to be in non-OECD (Organisation for Economic Co-operation and Development) countries by 2035, largely driven by the emerging economies of Asia.
China’s demand for natural gas alone is projected to grow more than five times from the current 20 billion cubic metres to 110 billion cubic metres by 2015.
He said while South-East Asia was traditionally a LNG exporting region, with no importers, this was expected to change by 2015.
Teo said 10 LNG import terminals with a total import capacity of some 34 billion cubic metres were possibly coming online in the region.
Several recent trends further underscored Asia’s role in the evolution of the global LNG market.
He said Asia’s LNG demand surged strongly after the 2008 financial crisis.
It is expected to grow faster than supply in the coming years.
The supply situation is only expected to ease after 2015, when more LNG production projects and supply options come on-stream. — Bernama