• 55 mins Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 5 hours Rosneft Signs $400M Deal With Kurdistan
  • 8 hours Kinder Morgan Warns About Trans Mountain Delays
  • 14 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 19 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 23 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 1 day Conflicting News Spurs Doubt On Aramco IPO
  • 1 day Exxon Starts Production At New Refinery In Texas
  • 1 day Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
Global Energy Advisory 13th October 2017

Global Energy Advisory 13th October 2017

Tensions between Iran and the…

UK Oil And Gas Costs To Rise 100% If Brexit Fails

UK Oil And Gas Costs To Rise 100% If Brexit Fails

Brexit negotiators’ failure to secure…

Inpex Moves to Singapore as it becomes Asian Oil and Gas Trading Hub

Inpex Moves to Singapore as it becomes Asian Oil and Gas Trading Hub

As Asia develops to become a huge market in both the production and consumption of oil and LNG, Singapore seems to be turning into the region’s main trading hub. Japan’s largest oil and gas explorer, Inpex Corp., has opened up a new office in Singapore in order to market its rising output of crude oil, condensate, and LNG.

Inpex’s decision is just another sign of the growing trend for oil and gas producers to try and take a more active role in the market, in an attempt to cut out the middlemen and sell their products directly to the consumers. Singapore allows Inpex access to a larger pool of traders than it would have access to at home, especially as Japan’s market for oil is shrinking.

Last year, Mitsui & Co, a large Japanese trading company, and TonenGeneral, a Japanese refiner and oil transporter, both moved their trading offices to Singapore.

Related article: Can China’s Financial Might Force Stability in Central Asia?

Inpex has moved its office in order to benefit from a larger number of traders as it prepares for an increase in production over the next few years thanks to the multi-billion dollar LNG project in Australia. When the Icthys project is finally ready to begin production around the end of 2016, Inpex is expecting its oil and gas production to jump by around 66% to nearly 700,000 barrels of oil equivalent a day.

Reiji Ogino, a senior analyst at Mitsubishi UFJ Morgan Stanley Securities, explained to Reuters that the office in Singapore will also make it easier for Inpex to buy LNG, which can be delivered to its new Naoetsu LNG import terminal in Joetsu City, Niigata Prefecture, until Icthys is ready to begin production.

Ogino said that “Inpex has emerged as an importer with the start-up of the Naoetsu LNG receiving terminal this month.”

The Naoetsu LNG terminal is part of the expansion of Japan’s LNG network, it has two large LNG storage tanks which can each hold 180,000 kilolitres, and has the capacity to receive about 1.5 million tonnes of LNG a year. LNG is expected to become a major source of energy for Japan as it continues to recover from the loss of its nuclear power sector.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News