{"id":648758,"date":"2017-04-11T04:15:18","date_gmt":"2017-04-11T04:15:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/"},"modified":"2017-04-11T04:15:18","modified_gmt":"2017-04-11T04:15:18","slug":"global-energy-is-now-a-buyers-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/","title":{"rendered":"Global energy is now a buyer\u2019s market"},"content":{"rendered":"

The global energy market is skewing to the buyer\u2019s side<\/strong>, writes Nick Butler for the Financial Times<\/a>. OPEC may have met its match when three of the largest LNG importers \u2014 Kogas of Korea, JERA from Japan and China\u2019s Cnooc \u2014 signed a MoU agreeing to co-operate in the procurement of LNG at the end of last month. Basic market forces were behind this shift, as the global supply of LNG has outstripped demand<\/strong>, with data from the International Gas Union showing that traded LNG in 2016 rose to 258 mn tonnes, while global liquefaction capacity grew to 339 mn tonnes, \u201cleaving an overhang that helped push prices down.\u201d Asian LNG is being sold for as little as USD 6 per mmbtu, down from USD 20 in 2013. The glut is expected to continue as a number of export projects come onstream. What does this mean for Egypt?<\/strong> Butler suggests that there is no clarity on when Omm El Donia\u2019s recent gas discoveries might be utilized given current market dynamics. Even setting aside our dream of becoming an export hub for energy (we don\u2019t think the situation is as dire as Butler does), we can think of (a) power generation and (b) satisfying demand from domestic industry, particularly if well-priced feedstock were offered in place of current cash export subsidies for select industries.<\/p>\n","protected":false},"excerpt":{"rendered":"

The global energy market is skewing to the buyer\u2019s side, writes Nick Butler for the Financial Times. OPEC may have met its match when three of the largest LNG importers \u2014 Kogas of Korea, JERA from Japan and China\u2019s Cnooc \u2014 signed a MoU agreeing to co-operate in the procurement of LNG at the end […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[72,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648758","post","type-post","status-publish","format-standard","hentry","category-the-macro-picture","tag-enterpriseam","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"64e3ba66-625e-4f0a-82e9-a89ada8d77c6","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[648740],"teaser":"","voice_url":""},"yoast_head":"\nGlobal energy is now a buyer\u2019s market - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global energy is now a buyer\u2019s market\" \/>\n<meta property=\"og:description\" content=\"The global energy market is skewing to the buyer\u2019s side, writes Nick Butler for the Financial Times. OPEC may have met its match when three of the largest LNG importers \u2014 Kogas of Korea, JERA from Japan and China\u2019s Cnooc \u2014 signed a MoU agreeing to co-operate in the procurement of LNG at the end […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-11T04:15:18+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Global energy is now a buyer\u2019s market\",\"datePublished\":\"2017-04-11T04:15:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\"},\"wordCount\":227,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"THE MACRO PICTURE\"],\"articleSection\":[\"THE MACRO PICTURE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\",\"name\":\"Global energy is now a buyer\u2019s market - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-04-11T04:15:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Global energy is now a buyer\u2019s market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Global energy is now a buyer\u2019s market - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/11\/global-energy-is-now-a-buyers-market\/","og_locale":"en_US","og_type":"article","og_title":"Global energy is now a buyer\u2019s market","og_description":"The global energy market is skewing to the buyer\u2019s side, writes Nick Butler for the Financial Times. 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In volume terms, exports climbed to 3.5 mn, from 1.4 mn tonnes in 2018, IGU figures showed. CAPMAS figures released earlier this year indicated\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555463,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/15\/lng-exports-up-edita-eyes-new-markets\/","url_meta":{"origin":648758,"position":1},"title":"LNG exports up, Edita eyes new markets","author":"enterpriseam admin","date":"15 November 2021","format":false,"excerpt":"Egypt natgas exports rebound: Egypt exported 1 mn tonnes of liquefied natural gas (LNG) in 3Q2021, up from just 100k tonnes in the same period last year, according to the Organization of Arab Petroleum Exporting Countries\u2019 (OAPEC) latest report (pdf). Gas exports have been given a boost by the return\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598187,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/egypt-offers-13-lng-cargoes-in-auction\/","url_meta":{"origin":648758,"position":2},"title":"Egypt offers 13 LNG cargoes in auction","author":"enterpriseam admin","date":"16 May 2019","format":false,"excerpt":"The Egyptian Natural Gas Holding Company (EGAS) is offering 13 LNG cargoes in a number of auctions for shipment in June and July, Reuters reports. Egypt is expected to export 12 mn tonnes of natural gas worth USD 2 bn in FY2019-2020.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556409,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/25\/egypt-on-track-to-achieve-self-sufficiency-in-fuel-products-by-2023-el-molla\/","url_meta":{"origin":648758,"position":3},"title":"Egypt on track to achieve self-sufficiency in fuel products by 2023 \u2013El Molla","author":"enterpriseam admin","date":"25 October 2021","format":false,"excerpt":"Egypt is on track to reach its target of fuel self-sufficiency by 2023 as large-scale upgrades to oil refineries and new facilities expected to cost USD 7 bn come online, Oil Minister Tarek El Molla said in an interview yesterday with Bloomberg (read or watch, runtime: 4:45). 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