From the first of a three-part series about global gas, sponsored by ExxonMobil, DCFR President Jennifer Warren interviewed panelist Mikkal Herberg, research director on Asian energy security at The National Bureau of Asian Research (NBR).
New base energy news october 17 2018 no-1207 by khaled al awadiKhaled Al Awadi
NewBase Energy News 17 October 2018 - Issue No. 1207 Senior Editor Eng. Khaled Al Awadi
having the latest energy news for MENA area and related projects to the area
Energy is the lifeblood of a modern economy. How America uses, generates, and produces that energy is decided by a combination of economic and political choices that are made over the span of decades.
The questions the next President will face are more complex and difficult than we have ever faced: climate change, national security, prices, and new technologies all intersect to ensure there are very few “win-win” choices.
Congress and the Administration will have to craft compromises with the goal of ensuring a long-term energy system that is more secure, stable, and sustainable than today’s.
Over the last four years, the United States has seen the beginning of a great change in how it uses and produces energy.
This report lays out clear choices that the next administration faces on energy and climate change. America has made progress in rolling out renewable energy, but an accelerated effort is needed. Also, the next administration will need to make choices on how to manage our new-found abundance of natural gas and oil while at the same time laying the groundwork for next-generation energy technologies that will break our dependence on fossil fuels.
ASP’s report, “Critical Energy Choices for the Next Administration” takes an in-depth look at the serious issues the next administration will need to address.
New base energy news october 17 2018 no-1207 by khaled al awadiKhaled Al Awadi
NewBase Energy News 17 October 2018 - Issue No. 1207 Senior Editor Eng. Khaled Al Awadi
having the latest energy news for MENA area and related projects to the area
Energy is the lifeblood of a modern economy. How America uses, generates, and produces that energy is decided by a combination of economic and political choices that are made over the span of decades.
The questions the next President will face are more complex and difficult than we have ever faced: climate change, national security, prices, and new technologies all intersect to ensure there are very few “win-win” choices.
Congress and the Administration will have to craft compromises with the goal of ensuring a long-term energy system that is more secure, stable, and sustainable than today’s.
Over the last four years, the United States has seen the beginning of a great change in how it uses and produces energy.
This report lays out clear choices that the next administration faces on energy and climate change. America has made progress in rolling out renewable energy, but an accelerated effort is needed. Also, the next administration will need to make choices on how to manage our new-found abundance of natural gas and oil while at the same time laying the groundwork for next-generation energy technologies that will break our dependence on fossil fuels.
ASP’s report, “Critical Energy Choices for the Next Administration” takes an in-depth look at the serious issues the next administration will need to address.
• US tight oil production and the future oil price
• Dubai:MD and CEO of DEWA receives CEO of First Solar
• UAE's Masdar inks deal to build Mauritania solar projects
• No 'significant' change in Saudi oil policy after king's death
• Algeria:To increase its oil output & renewable energy projects production
• Norway: Det norske commences drilling on the Ivar Aasen field
• Bangladesh:KrisEnergy completes 2D seismic program in SS-11
• India: Energy subsidies prove drain on Indian economy
• Oil producers in US not able to drill at $45 a barrel
• Oil price plunge to boost global M&A activity in 2015, says EY
New base energy news 27 august 2018 no 1196 by khaled al awadi-compressedKhaled Al Awadi
NewBase Energy News 27 August 2018 - Issue No. 1196 Senior Editor Eng. Khaled Al Awadi
Presenting the latest energy news Fyi to make it easy for you to select energy business
Special issue on World Environment Day 2014.
The world has to raise voice and NOT sea level…but we have also to raise bar of our ambition. Read the special issue World Environment Day -2014
Ne base 10 june 2021 energy news issue 1437 by khaled al awadiKhaled Al Awadi
NeBase 10 June 2021 Energy News issue - 1437 by Khaled Al Awadi (2)
NeBase 10 June 2021 Energy News issue - 1437 by Khaled Al Awadi (2)
NeBase 10 June 2021 Energy News issue - 1437 by Khaled Al Awadi (2)
Oil prices & its impact on Economy of NepalMADHAV KUMAR
Its a Research Paper which talks on the Scenario of Nepal's Economy and the direct Impact of Oil Prices. It also explains various problem which is related to prices and development in Nepal.
The Gulf oil spill and drilling moratorium has forced a shift within the energy industry from offshore to onshore. This presentation discusses this trend and profile the prolific Bakken play in the U.S. and some observations of the markets and the oil services sector.
IHS Report: Energy and the New Global Industrial Landscape: A Tectonic ShiftMarcellus Drilling News
The executive summary of a new IHS report on how shale gas and tight oil (i.e., unconventional energy) is changing the U.S. and the world. In 2012 alone, unconventionals created 1.7 million jobs and generated $62 billion in new federal and state revenue. The new study was released at the World Economic Forum in Davos, Switzerland in Jan. 2013.
The energy industry is known for its cyclicality. However, underlying the recent down cycle are five mega trends that could lead to very robust returns for investors in the decades ahead.
How Shale Gas is Shaping Energy Security and Environmental Issues across the ...Hitachi in the U.S.A.
The 5th Eco-Engineering Forum was centered on the ongoing shale gas boom and how it is shaping energy security and environmental issues across the world.
In the opinion of many foreign-policy experts, the greatest
threats to world security and peace are Iran’s nuclear
program, international Jihadist terror, and radicalization
among the Muslim populations in Europe and North America.
What is the common thread among these various threats?
All are financed by Persian Gulf petrodollars.
• US tight oil production and the future oil price
• Dubai:MD and CEO of DEWA receives CEO of First Solar
• UAE's Masdar inks deal to build Mauritania solar projects
• No 'significant' change in Saudi oil policy after king's death
• Algeria:To increase its oil output & renewable energy projects production
• Norway: Det norske commences drilling on the Ivar Aasen field
• Bangladesh:KrisEnergy completes 2D seismic program in SS-11
• India: Energy subsidies prove drain on Indian economy
• Oil producers in US not able to drill at $45 a barrel
• Oil price plunge to boost global M&A activity in 2015, says EY
New base energy news 27 august 2018 no 1196 by khaled al awadi-compressedKhaled Al Awadi
NewBase Energy News 27 August 2018 - Issue No. 1196 Senior Editor Eng. Khaled Al Awadi
Presenting the latest energy news Fyi to make it easy for you to select energy business
Special issue on World Environment Day 2014.
The world has to raise voice and NOT sea level…but we have also to raise bar of our ambition. Read the special issue World Environment Day -2014
Ne base 10 june 2021 energy news issue 1437 by khaled al awadiKhaled Al Awadi
NeBase 10 June 2021 Energy News issue - 1437 by Khaled Al Awadi (2)
NeBase 10 June 2021 Energy News issue - 1437 by Khaled Al Awadi (2)
NeBase 10 June 2021 Energy News issue - 1437 by Khaled Al Awadi (2)
Oil prices & its impact on Economy of NepalMADHAV KUMAR
Its a Research Paper which talks on the Scenario of Nepal's Economy and the direct Impact of Oil Prices. It also explains various problem which is related to prices and development in Nepal.
The Gulf oil spill and drilling moratorium has forced a shift within the energy industry from offshore to onshore. This presentation discusses this trend and profile the prolific Bakken play in the U.S. and some observations of the markets and the oil services sector.
IHS Report: Energy and the New Global Industrial Landscape: A Tectonic ShiftMarcellus Drilling News
The executive summary of a new IHS report on how shale gas and tight oil (i.e., unconventional energy) is changing the U.S. and the world. In 2012 alone, unconventionals created 1.7 million jobs and generated $62 billion in new federal and state revenue. The new study was released at the World Economic Forum in Davos, Switzerland in Jan. 2013.
The energy industry is known for its cyclicality. However, underlying the recent down cycle are five mega trends that could lead to very robust returns for investors in the decades ahead.
How Shale Gas is Shaping Energy Security and Environmental Issues across the ...Hitachi in the U.S.A.
The 5th Eco-Engineering Forum was centered on the ongoing shale gas boom and how it is shaping energy security and environmental issues across the world.
In the opinion of many foreign-policy experts, the greatest
threats to world security and peace are Iran’s nuclear
program, international Jihadist terror, and radicalization
among the Muslim populations in Europe and North America.
What is the common thread among these various threats?
All are financed by Persian Gulf petrodollars.
Tom Kaiserski, Program Manager, Energy Promotion and Development Division, Montana
Department of Commerce
Northern Task Force Meeting on April 2, 2012, Billings, MT
Governments in recent years have been looking for ways to kick the coal habit and stimulate the economy. LNG can do both, but has it been over done?. With multiple LNG projects coming online at home simultaneously, are the economics still there?
Partnerships reshaping Asia's natural gas industryGAIL Social
Prepared for the Asia Gas Partnership Summit organized by GAIL (India) Limited and FICCI. An extensive report prepared by McKinsey & Company, Inc. focusing on "Asia's central role in LNG"
Global revenues for solar photovoltaics,
wind power, and biofuels
grew from $75.8 billion in 2007
to $115.9 billion in 2008. Between 2005 and 2030, global energy demand is projected to increase by 50%—with more than 80% of that demand
coming from emerging economies, namely China and India.
Water and Shale Gas Development - Leveraging the US experience in new shale d...Marcellus Drilling News
A new report by global consulting firm Accenture that looks at the efficient and innovative ways the United States has dealt with water use in shale gas drilling. Accenture offers the U.S. as a model template for other countries who may be considering how (and whether) to frack their own shale deposits.
The following interview offers a wealth of knowledge about security and counterterrorism through comments on diverse topics such as al-Qaeda’s metastasized activities, to how the U.S. needs to articulate a strategic view to counter terrorism of the future and offer leadership.
A recent presentation about why economic growth in the US is slow and how budget deficits retard growth. Presented by Carlos Zarazaga, senior research economist of the Dallas Federal Reserve Bank. Part of DCFR's Series "M" on money issues, September 25th, 2012..
Presentation by Dr. Dennis Ippolito about the US budget, deficits and tax proposal comparisons under various plans: Ryan, Obama, Simpson-Bowles, and Bipartisan Center's business as usual scenario.
The extensive interview with Dr. Gupta contains references, analysis and insight into the “challenges of the commons” faced globally, including:
• Energy and water resources and their implications for development and foreign affairs;
• Climate change, carbon emissions equations and the response of nature;
• Discussions about natural gas and nuclear energy and waste;
• And, the geopolitics and economics surrounding the energy- water nexus, with references to China and India.
This brief is a result of a January 30, 2012 program with Dr. Geoffrey West of the Santa Fe Institute. DCFR explored the prospects for cities as growth engines and how to think about their development going forward.
Dr. Maria Minniti of SMU Cox School of Business presentation of January 30, 2012 on entrepreneurs, growth and cities. For the Series "D" panel on "Prospects for Cities."
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
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Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
1. ‘
‘ Global Themes
an issues brief series of the Dallas Committee on Foreign Relations
DCFR
Dallas Committee on Foreign Relations
Issue No. 1 May 24, 2011
Global Gas
Changing trade routes and geopolitics
By Jennifer Warren, President of DCFR
“‘The question is whether we are entering the golden age of gas—or is gas going to be
Introduction the fuel of the future, and always will be?’ In order for gas’ potential to be realized in this
The narrative of global gas begins golden age, we need huge steps forward in finding new supplies, infrastructure develop-
in Texas. But what started in Texas ment to move that gas, and developed markets.”
didn’t stay in Texas.
Who benefits from expanded gas to other regions and that’s because
In fact, the fairly recent discoveries supply, and for how long? What is the gas is expensive to transport over
and production of shale gas in North future outlook for past, present, and Asia’s long distances. Gas accounts
America have led to more self- future trading partners? for only 11% of Asia’s energy use
sufficiency in the U.S. We will no compared to 24% globally. If Asia
longer need to import liquefied natural From the first of a three-part series can expand its gas use, then hopefully
gas (LNG) to the degree that we once about global gas, sponsored by this reduces the expected growth
did. This has been called a gas rush, ExxonMobil, DCFR President in coal consumption and even oil
gas gale, a black swan event, a game- Jennifer Warren interviewed panelist consumption, particularly for power
changer… Mikkal Herberg, research director on generation use. Gas diversifies Asia’s
Asian energy security at The National energy slate and diversification of the
A robust U.S. supplied with its own Bureau of Asian Research (NBR). energy slate means stronger energy
natural gas resources has implications The interview with Mikkal Herberg of security. Gas is a reasonably priced,
for Europe and Asia. Europe benefits April 8, 2011 follows. cleaner, and a readily available fuel
from this in several ways. Its that improves Asia’s energy security
relationship with Russia as a primary and leads it toward a lower-carbon
supplier might change in the future. Natural Gas and Energy Security energy future.
Top importers such as Japan and JW: How does the increased use of
Korea also benefit from greater U.S. gas in Asia change energy security China’s Statecraft
resources. China and India are aided equations? JW: How might the use of natural
more from U.S. technical know-how gas in China impact their pursuit of
as they learn to exploit their own MH: Asia is deeply dependent on both relationships with large oil-producing
potential resources with global energy oil and coal. There are many historical countries?
firm’s knowledge, partly gained factors related to this. Oil is easy to
from U.S. shale developments and move around and easy to use; coal MH: I think oil is viewed very
innovations. is in abundant supply in Asia. The differently in Beijing. From my
biggest and fastest growing markets perspective, they view oil consumption
The market for natural gas is said to are China and India, but also Southeast as a particularly acute energy security
be evolving into a global one versus Asia. With respect to electric power issue, which relates to economic
the original trading blocs of the past. generation, oil and coal conveniently security. Gas is relatively new to the
Natural gas prices are quite low in the fit the bill. In particular, natural gas Chinese, but they are expanding gas
U.S. utilization is relatively low compared use rapidly, which is a good thing.
4925 Greenville Ave, Suite 1025 | Dallas, Texas 75206 | 214.750.1271 | dallascfr.org
2. 2
It now represents just 4% of their energy (LNG), and in the near future Papua gas long distances is expensive. It
mix, but is growing dramatically. New Guinea and Timor Leste will also includes both LNG and long-distance
become LNG exporters, meaning less pipeline gas, with a whole different set
Natural gas doesn’t really compete global reliance on the Persian Gulf. of geographical issues. I believe it will
with oil directly in most marketplaces. Greater use of natural gas offers a be very difficult for the gas producers
Expanded gas supply is unlikely to more diversified slate of suppliers as to develop a cartel similar to OPEC.
impact oil demand significantly, at well. Much of the global oil supply is
least in transportation, which is where coming from places that are unstable, Asian Gas Consumption: China and India
oil is the key fuel source. My guess is often unfriendly, or are members JW: Why has pipeline gas development
that the Chinese will continue to push of OPEC, which restricts supply to been more limited in Asia versus in
hard in acquiring oil fields, mergers, maintain high prices. the U.S. and North America? Is it just
and acquisitions to expand their supply the money?
portfolio and sources of oil. Much of JW: Do you think there will be a
what drives this kind of apparent state balance of power shift eventually from MH: It’s what’s often called “the
push to invest abroad is driven not by OPEC oil to the gas producers? tyranny distance”. There are huge
strategy or political leadership, but maritime distances around the
really by the national oil companies MH: I don’t think so anytime soon Pacific region to transport gas. This
(NOC) themselves. They are pursuing given long-term trends. Oil demand is means either sub-marine pipelines
commercially- and competitively- are required, which are particularly
driven strategies that make sense for
any large oil company. Then these
NOCs often bring the government
along to provide extra trade, aid, and
loans that help the NOCs seal the deal.
So often it’s the companies leading
the states, not the states leading the
companies. It is a collaboration.
Diversification and Security
JW: What are the implications for
US and European security given this
paradigm shift with gas usage?
MH: For many countries, given
the extent to which gas becomes
a bigger part of the energy mix,
countries have a global energy slate
that is more diversified. That’s good
for everybody. The most important
trend relative to energy consumption
is that gas can help slow the growth going to grow another fifteen million expensive beyond 600-800 miles, or
of coal consumption which is rising barrels a day over the next twenty gas must be cooled to an extremely
dramatically in Asia. Gas can really years. The supplier base is still going low temperature to liquefy it for
make a material difference because to be very narrow. We will still rely transport in expensive LNG tankers.
coal and gas compete in power on OPEC for a major share of world Long pipeline distances in Asia and
generation, heating, and industrial use. oil supplies. The OPEC share of the Middle East tend to slow gas
40% today will probably be 50% in development and use. In China and
Additionally, greater use of the future, particularly the supplies India, the barrier has been more policy
compressed natural gas, such as coming from the Persian Gulf which oriented. Until recently they have not
natural gas used for transportation, will increase OPEC’s power over been sufficiently incentivizing the
can help diversify energy use. Natural pricing. Gas is a very different game. private or state sectors, or providing
gas comes from a slightly different There is a loose gas coordination the types of investment terms that
set of producer countries. For the group called Gas Exporting Countries will encourage building pipelines and
Asian region, Australia, Malaysia, Forum (GECF). But gas is a much developing the markets.
Indonesia, and Brunei are major more complicated industry; markets
exporters of liquefied natural gas are complex, and transportation of
3. 3
JW: What are the political implications “Gas is more complex and difficult than oil. With gas, there are relatively expen-
of natural gas as a base-load power sive pipelines, which require market development, tariffs and regulation—the
source in countries such as India and software of market development.”
China?
want to rely on Pakistan as a transit have recently been moving towards
MH: Natural gas is a vital state. The potential for Turkmenistan more realistic pricing, both China and
diversification of their supplies to gas flowing to India faces the same India have kept wellhead gas prices
a cleaner source. Right now coal problem—it has to cross Pakistan and extremely low.
dominates the market for electricity also a very unstable Afghanistan. New
generation. About 80% of China’s Delhi had hoped to access Myanmar There are also pipeline security
power is fueled by coal, and electricity gas from the East, but the Chinese issues. Will pipelines be built where
demand is expected to double over offered Myanmar a better deal and they need to be built? Additionally,
the next 15 years. Anything that that gas will go north to China now. pipeline infrastructure tends to be
brings gas into the picture offers There’s more gas being developed dominated by state companies. There
both diversification and pollution in Myanmar, so it is quite possible is a lack of coordination among the
reduction advantages. This is where that India may yet be able to access various governments’ bodies. Finally,
gas can make such a difference. Until Myanmar gas supplies. But so far China and India’s respective domestic
recently, a key barrier has been that their efforts in trying to access the gas markets have not been sufficiently
governments want to keep electricity big regional gas supplies have been developed by their governments to a
prices very low, which makes it frustrated. LNG is going to grow large extent. Tariffs, transportation,
difficult for gas to compete with cheap gradually in India, but much depends regulation, and distribution systems to
coal. This continues to be a problem on continuing to reform energy pricing move gas into large urban areas need
in both China and India. But they are to justify relatively expensive LNG. to be addressed. Market development
in the early stages of addressing these is complex and has been slow.
problems. JW: So how do Beijing and New
Delhi incentivize their national oil Both countries have only begun to
JW: You discuss India’s gas, regional companies and foreign investors? understand the great potential for gas.
pipeline and competitive constraints What kind of challenges do you see Building the pipeline infrastructure
in your recent paper on natural gas in for them in expanding gas supply? takes time and investment and
Asia. India has a tough road ahead. production returns have not been very
Does that add tension for India as MH: In my view, the problem is first attractive. Put that all together, and you
others countries increase their gas the wellhead price being paid for gas. have very limited activity. Shell is one
consumption? For a producer the wellhead price is exception with a large sour gas project
critical to making the investment in in China and new gas development is
MH: They recognize they need to new supplies possible. Although they beginning to accelerate. Some activity
use more gas, for all of the beneficial
reasons we have discussed. They have
had a major recent discovery offshore
in the Krishna Godavari Basin on the
East coast, which will help them boost
gas use in the future. But inevitably
India will rely increasingly on
imported gas; currently they already
import 30% of their gas. For India
to increase gas use, they will need to
increase their imports of LNG and
need to access large regional gas
supplies via pipeline like China has
done with Turkmenistan, potentially
Iran, and Myanmar.
India’s problem is that of being in a
geopolitical box. The effort to access
Iranian gas via the Iran-Pakistan
pipeline is blocked for a number of
reasons. Most importantly, they don’t
4. 4 May 24, 2011
exists in China, where Chevron and IEA is releasing a major new report Personally, I believe we are headed
other firms are developing China’s on this in June. My response, during for tremendous growth in gas use,
sour high-pressure gas, for which the our recent conference: ‘The question particularly in China. But it’s going
Chinese lack the technology. is whether we are entering the golden to be slower than people might think.
age of gas—or is gas going to be the Firms need investment terms that
Gas is more complex and difficult fuel of the future, and always will be?’ make sense; governments to follow
than oil. With oil, the resource can be In order for gas’ potential to be realized through on promises; stable contracts,
put on a tanker and transported pretty in this golden age, we need huge steps and confidence in sustained market
much anywhere in the world for less forward in finding new supplies, development.
than $3 per barrel. With gas, there infrastructure development to move
are relatively expensive pipelines, that gas, and developed markets. JW: If Beijing continues increasing
which require market development, its gas use, with China relying
tariffs and regulation—the software of JW: So are parts of Asia like the oil traditionally on coal for electricity and
market development. Gas is infinitely markets in the U.S of the 1950s, say huge employment in the coal industry,
more complex. Producers can’t invest six decades ago? how might this affect social stability?
in exploration and development
if the market is not developed. MH: In a lot of ways, yes, in most MH: In a sense, gas use in China will
If the supplies are not sufficient, of the developing countries around be largely incremental demand for
then governments don’t move to the world, and in developing Asia. power generation and residential and
develop the market. These things However Japan and Korea are commercial uses. China is growing at
all must be done simultaneously and different with their more developed such a rapid rate on such a huge scale
require strong coordination between markets for gas. But the real growth that even with a significant expansion
government policymakers and the forecasted is in developing Asia, in of gas use in power generation and an
industry investing in new supplies. China and India particularly. Indonesia expansion of nuclear and hydroelectric,
has been a massive LNG exporter for this is unlikely to undermine reliance
Future of Global Gas decades, yet Indonesia is experiencing on coal and the coal industry. China’s
JW: So it’s a huge infrastructure gas shortages (which also happened problem is that of mining enough coal.
undertaking to use more gas for these in the U.S. during the late 1970s). They must transport coal on already
countries? There are many reasons for shortages, overloaded rails and build power
often prices are too low to justify new plants fast enough and efficiently to
MH: The crux of this issue is the supplies. keep up with economic and energy
challenge of domestic development
to expand gas use, especially for
electricity generation. LNG receiving
facilities have to be built; pipeline and
distribution systems must be built,
and market prices and regulatory
systems must be created. All of these
things have to fall into place in a
relatively coordinated fashion. Oil is
different and fundamentally easier and
less expensive to transport and use.
That’s why oil use grows rapidly in
developing economies and why gas
use tends to lag.
JW: So these are all of the practical
issues and obstacles that must be
considered by the supporters of natural
gas expansion?
MH: Fatih Birol, chief economist
of the International Energy Agency
(IEA), recently suggested we may be
entering the golden age of gas and the
5. 5
demand growth. Growing gas use will Australia, Indonesia, and possibly work with. They’re intent on holding
slow the growth of coal use—but not Russia’s East Siberia, probably post- on to their share of the European
stop it. 2020. The Chinese are building 12- market. They are building other gas
15 LNG receiving terminals along projects and promising more gas
JW: How long do you think it will the east coast and three are currently supply and pipelines to Europe in the
take India and China, respectively, to operational. So there is massive future. However, the investment is not
raise their gas use toward much higher incremental growth in LNG supply, forthcoming for the new fields that
international averages? Is China one coupled with rising domestic gas can fulfill the promised supply. Their
decade off and India two? development that is moving quite fast. old fields are mature, and maybe even
Over the next decade, China’s gas the largest in decline; they have to
MH: I think the big story is that China usage seems likely to boom. India’s start developing the new fields. This
is ramping up its gas consumption on gas usage will grow strongly as well, is a big worry for the Europeans—are
a scale that’s hard to believe. In 2009, although somewhat more slowly. they investing enough to meet their
they consumed about 90 billion cubic Domestic gas production will help and future commitments? The Russians
meters (bcm) or roughly 3.2 trillion both LNG and pipeline gas imports express that they have never missed a
cubic feet (tcf). Their consumption are likely to grow. commitment yet.
rose by 18% to 105 bcm in 2010, and
the target for the 12th Five-Year-Plan JW: How does Russia fit into this The Russians have worked very hard
is to reach 250 bcm in 2015, a two- global gas market that’s expanding? to control Central Asian gas, making
and-a-half fold rise in just five years. sure that gas supply travels through
They plan to increase gas usage to MH: As you know, Russia is a big Russia, which also supplies Europe.
about 400 bcm (14 tcf) by just 2020. supplier to Europe, and that’s the big While Russia is a major supplier,
Growing from 3.2 tcf to 14 tcf of story. They are the world’s largest gas the uncertainty is whether they are
annual consumption in the space of exporter, supplying about a quarter investing enough. Their pricing
one decade is ambitious. Consumption of Europe’s gas, half of which is policies tend to be tough as well, again
in the U.S. is only 23 tcf, and we are imported gas. Russia has the potential reinforcing the challenges of working
the largest consumer in the world. to be a much bigger supplier if they with the Russians.
Chinese gas use targets have risen develop new fields in the northern
dramatically in the past few years. Yamal peninsula region. They have
They will be supplied by imported huge reserves in East Siberia. But the
gas from Central Asia, Myanmar, Russians are extremely difficult to
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