US$1.6 billion ship deal will put Russian LNG on fast track to China

China LNG, Teekay LNG JV to finance 6 carriers   A joint venture between China LNG shipping and Teekay LNG has reportedly signed a US$1.6 billion deal to finance six LNG carriers, which will service Russia’s Yamal LNG project. The carriers, currently being built by South Korea’s Daewoo, can operate the northern route from the … Continue reading US$1.6 billion ship deal will put Russian LNG on fast track to China

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Crises in Middle East could change Asia’s energy security dynamic

India and China are not only trying to reduce their dependence on oil from the Middle East, but also considering renewable energy alternatives; meanwhile, China-Russia-Iran-Pakistan could become a new energy supply axis in the near future By Alam Srinivas   Crises brewing in the Middle East could have major ramifications for energy security in Asia, … Continue reading Crises in Middle East could change Asia’s energy security dynamic

Australia boasts world’s biggest battery

South Australia has a big new battery—the world’s largest—and it's already helping boost grid reliability as the Southern Hemisphere's summer begins. Tesla has bragging rights. The company installed 100 megawatts (MW) in under 100 days, just as CEO Elon Musk promised with his or-else-it’s-free flourish. More important, perhaps, the storage industry has a shiny new … Continue reading Australia boasts world’s biggest battery

Putin Crowns Himself OPEC King

Bloomberg By Javier Blas and Elena Mazneva For more than half a century, Saudi Arabia’s oil minister could move markets with a few choice words about what OPEC may decide at its next meeting, generating millions if not billions of dollars of profit for insiders. Not anymore. While OPEC’s gatherings still influence prices, it’s not … Continue reading Putin Crowns Himself OPEC King

Second China-Russia crude oil pipeline project completed

Russian oil transported to China's northeast by land-based crude oil pipelines will double from 15 million tons to 30 million tons On November 12, the second China-Russia crude oil pipeline project, which lasted 456 days, was finally completed, the 21st Century Business Herald reported. According to the planned volume of pipeline transportation between China and Russia, … Continue reading Second China-Russia crude oil pipeline project completed