Wednesday, October 18, 2017

Tag: Australia

Swamp or no swamp, Goldman swims on

The investment bank’s network reaches the White House, again. Consider just this very partial list: Henry Fowler, Robert Rubin, and Hank Paulson, former US Treasury secretaries. Mark Carney, governor of the Bank of England. Mario Draghi, European Central Bank president. Malcolm Turnbull, prime minister of Australia. Bill Dudley, president of...

The Coming War on China

When I first went to Hiroshima in 1967, the shadow on the steps was still there. It was an almost perfect impression of a human being at ease: legs splayed, back bent, one hand by her side as she sat waiting for a bank to open. At a quarter...

Asia markets capitulate as UK votes to leave European Union

Asian stocks cratered, gold prices surged and the dollar briefly plunged below 100 against the yen on Friday as financial markets were rocked by results from the UK referendum on European Union (EU) membership that pointed to a Brexit. The UK voted to leave the EU, a dramatic turn that...

India Acts East

Washington’s pivot to Asia gets all the attention, but India's pivot east will redefine regional politics. Washington’s Asia rebalance, first articulated by President Barack Obama in a 2011 speech to Australia’s parliament, has received ample attention. India’s envisioned pivot to Asia has garnered far less. Nonetheless, India’s planned pivot is freighted with significance for the country’s economic prospects,...

The Race Between U.S. And Australian LNG Just Started

Cheniere Energy reached a milestone on February 25, dispatching the first shipment of LNG from its facility at Sabine Pass, Louisiana. The LNG tanker Asia Vision departed the U.S., bound for Brazil. The fact that Petrobras would be the first to benefit from Cheniere’s operations speaks to the confused...

IGU: Global LNG industry gearing up for growth

International Gas Union’s 2016 World LNG Report released on Tuesday reveals the global liquefied natural gas industry is set to grow along with playing a key role in expanding access to natural gas in the world’s future energy mix. LNG trade in total reached 244.8 million tons in 2015, up 4.7 million tons...

Oman Gas Projects Could Undermine U.S. LNG Market Ambitions

Two separate projects in the sultanate of Oman are about to turn the tiny Gulf country into an important international liquefied natural gas (LNG) player that the U.S. will have to contend with in its ambition to become the leader of this market. The first one is an agreement with...

A World War has Begun: Break the Silence

I have been filming in the Marshall Islands, which lie north of Australia, in the middle of the Pacific Ocean. Whenever I tell people where I have been, they ask, “Where is that?” If I offer a clue by referring to “Bikini”, they say, “You mean the swimsuit.” Few seem...

Russia Under Threat From U.S. Natural Gas

The world focused its attention recently on Cheniere and the United States’ first liquid natural gas export. But the more telling story actually lies behind the scenes and stems from the state-controlled Russian corporation Gazprom. Over the course of the past six months, the company has begun to experiment with...

Woodside Scraps $40 Billion LNG Project After Price Collapse

Woodside Petroleum Ltd. and partners including Royal Dutch Shell Plc and BP Plc scrapped plans to develop the $40 billion Browse liquefied natural gas project in Australia after the plunge in oil and gas prices. Australia’s second-largest oil and gas producer won’t go ahead with the floating LNG development after completing...

China Joins India Seeking Better LNG Contracts for Buyers

China's biggest energy company joined India in seeking to renegotiate long-term liquefied natural gas supply contracts amid a global glut that’s driving spot prices to the lowest in more than five years. China National Petroleum Corp. is looking for opportunities to rework the pricing method on its LNG supply contract...

Growth in domestic natural gas production leads to development of LNG export terminals

The first export shipment of liquefied natural gas (LNG) produced in the Lower 48 states on February 24 is a milestone reflecting a decade of natural gas production growth that has put the United States in a new position in worldwide energy trade. With the rapid growth of supply from...

U.S. push for joint patrols in Indo-Pacific region

The United States continues to push India towards joint naval patrols and multilateral groupings in the Indo-Pacific region. A senior U.S. Admiral on Wednesday called upon to convert the increasingly complex naval exercises between the two countries into coordinated patrols. Stating that India has an advanced military across all domains and...

The U.S. and India are deepening military ties – and China is watching

The U.S. military's top officer in the Pacific urged Indian officials Wednesday to pursue even closer military ties with the United States — part of a broader effort by the Pentagon to strengthen a relatively new partnership in the region, as China expands its military footprint in ways that...

America’s Natural Gas Exports Won’t Be Enough to Blunt Putin’s Energy Weapon

The United States is shipping gas overseas for the first time in decades, but private companies sell to the highest bidder — and not just to the countries Washington might want for geopolitical reasons. A massive tanker eased into its berth in Louisiana last week and began loading thousands of...

U.S. exports of LNG mark a turning point in the market

The first major U.S. LNG shipment for export launched this week right into an oversupplied global gas market. Experts say the market could stay soft for several years, but even so, this first shipment of U.S. gas, sold by Cheniere, marks what is a new role for the U.S. in...

Japanese banks plunge on European financial stocks rout

Japanese and Australian banks picked up the baton from their European peers, pulling the two bourses — the only two major Asian markets trading on Tuesday morning — sharply lower. Nomura led Japan’s meltdown, dropping 8 per cent within 20 minutes of the market opening. Big commercial banks Sumitomo Mitsui...

Surging Liquefied Natural Gas Trade

The EU's move toward a freer energy market and a global shift toward gas by climate-conscious consumers are likely to help fuel growing demand for US liquefied natural gas (LNG) in the coming years, Senior Fellow and former leading CIA analyst Bud Coote writes in Surging Liquefied Natural Gas...

Five Questions for Europe’s Gloomy Natural Gas Market in 2016

As the new year begins, Europe’s natural gas markets stand at the center of a web of geographic, financial and political factors that could reshape their future. In 2015, natural gas prices declined as the result of an oversupply made worse by the falling cost of coal, rising use of...

China establishes rival to World Bank

The Asian Infrastructure Investment Bank (AIIB) has been formally established. The China-backed Asian Infrastructure Investment Bank (AIIB), viewed by some as a rival to the World Bank and Asian Development Bank, was formally established on Friday, according to a statement issued by Beijing. The United States and Japan - the world's...

Has a Currency Collapse Already Started?

Yesterday, oil plummeted to its lowest level in nearly seven years... The price of oil fell 6.2% to $37.65, its lowest level since February 2009. Oil has now fallen an incredible 65% since peaking at $106 in June 2014. The world has a massive oil surplus right now. The oil stockpiles...

Why Nordstream 2 risks failure

The Nordstream 2 gas pipeline that Gazprom and a number of major European energy companies, have agreed to build, faces formidable political, legal and economic obstacles that may make the project undeliverable, writes Alan Riley, professor at City Law School in London and nonresident Senior Fellow with the Atlantic...
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Global Conflict and the Geopolitics of US-China Relations: Michel Chossudovsky

With reports emerging that China has signed on to Russia’s military coalition in Syria at the same time that the Chinese are signing new cooperation agreements with the US, the question is once again being raised: What is the nature of China-US rivalry? Michel Chossudovsky talks about the forces in...

Prime Meridians: A Journey Along Copper’s New Silk Road

China's growing focus on securing copper supplies from the “Silk Road” corridor makes perfect sense. Why not look in your own backyard? It’s the same reason that U.S. mining and exploration firms tend to focus on Mexico, Australian companies specialize in Southeast Asia, and London-based exploration outfits are Africa-savvy.

Australia World’s Largest LNG exporter by 2018: Understanding Maritime Security Challenges

According to the Oxford Institute for Energy studies by 2018; Australia would become world’s largest liquefied natural gas exporter (LNG). It is of cardinal importance to understand Australia’s global significance both towards strategic direction and growth through its LNG exports. In an article by the Submarine Institute of Australia;...

China Devalues Its Currency as Worries Rise About Economic Slowdown

HONG KONG — As China contends with an economic slowdown and a stock market slump, the authorities on Tuesday sharply devalued the country’s currency, the renminbi, a move that could raise geopolitical tensions and weigh on growth elsewhere. The central bank set the official value of the renminbi nearly 2...

US Marines look to nurture integrated Asia-Pacific amphibious forces, China excluded

The U.S. Marine Corps is bringing together foreign commanders from amphibious forces deployed mostly in the Asia-Pacific for a conference aimed at taking steps to integrate operations, with China excluded from the event, according to officials and planning documents. The effort centers on a first-of-its-kind conference between the Marine Corps...

China, Pursuing Strategic Interests, Builds Presence in Antarctica

HOBART, Tasmania — Few places seem out of reach for China’s leader, Xi Jinping, who has traveled from European capitals to obscure Pacific and Caribbean islands in pursuit of his nation’s strategic interests. So perhaps it was not surprising when he turned up last fall in this city on the...

Australia Caught in Middle of US-China Power Tussle

Canberra could struggle to balance its interests as tensions rise over the AIIB and TPP. Tensions between the United States and China over the Chinese-led Asian Infrastructure Investment Bank (AIIB) are the next embodiment of a hard and soft power battle for economic and political dominance in the Asia-Pacific, and...

Israel applies to become founding member of China Asian Infrastructure Investment Bank

Tel Aviv bids to join 40 countries in the Asian Infrastructure Investment Bank in a move likely to widen rupture with the US. The Israeli government has submitted its application to become a founding member of a controversial Chinese-led development bank, in a move that is likely to cause consternation...

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