South Korea, Asia’s fourth-largest economy, is struggling with recurring energy supply shortages. Despite the issue, country officials pledged to drastically scale back nuclear power at the World Energy Congress meeting on October 13, 2013. Nuclear energy accounted for 26.4% of power generation capacity in 2012, and was expected to reach 41% by the year 2035. The revised plans, despite the
The impact of natural gas is making its mark on the transportation industry. OAG360 covered a recent $68 million investment by the United Parcel Service (ticker: UPS) for its liquefied natural gas (LNG) vehicles in 2013. Now, the railroad industry is embracing the idea. On March 6, 2013, BNSF, one of North America’s leading freight transportation companies, announced it will
Calcutta, India, a city of 14 million, has banned cyclists from 174 major roads effective August 2013. K. Hari Rajan, the assistant commissioner (traffic) of Calcutta police, said: “Cycling is banned on major thoroughfares of the city for two reasons: To ensure that traffic flow is not disturbed by the mix of fast-moving vehicles and cycles, as Calcutta has no
American Energy Partners, LP was founded by Aubrey K. McClendon in April 2013. The Oklahoma City-based company aims to capitalize on opportunities available in unconventional resource plays onshore in the United States. McClendon co-founded Chesapeake Energy (ticker: CHK) in 1983 and served as its CEO until April 2013. On October 9, 2013, American Energy – Utica, LLC (AEU), an affiliate
United Parcel Service Inc. (ticker: UPS) is the world’s largest package delivery company and a leading global provider of specialized transportation and logistics services. The company has invested in the emergence of liquefied natural gas (LNG) for its vehicles, and began adding LNG tractors to its fleet in 2002. UPS currently has more than 1,000 such tractors in service, and
The governments of Japan and India announced on September 9, 2013, a joint buyer’s group agreement to increase the importation of liquefied natural gas (LNG) in an attempt to offset their rising energy prices. According to Mari Iwata’s report in The Wall Street Journal, the countries plan to ask fellow importers, such as South Korea and Singapore, to join the
UPS (ticker: UPS) plans to purchase approximately 700 liquefied natural gas (LNG) vehicles and build four refueling stations by the end of 2014. Upon completion, UPS says they will have the most extensive private LNG fleet in the U.S. The four fueling stations require an initial investment of more than $18 million and will be located in Knoxville, Nashville and
Cheniere Energy Partners, L.P. (NYSE MKT: CQP) announced today that its subsidiary, Sabine Pass Liquefaction, LLC (“Sabine Liquefaction”), has entered into a liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Centrica plc (“Centrica”) under which Centrica has agreed to purchase 91,250,000 MMBtu of annual LNG volumes upon the commencement of Train 5 operations. These volumes represent approximately 1.75 million metric tons per annum (“mmtpa”),
NATURAL GAS INVENTORY (Week Ended 7/20/12) Current: 3,189 Bcf Actual Injection/(Withdrawal): 26 Bcf Economist Average Estimate: 26 Bcf Previous: 3,163 Bcf Click here for the chart with five year averages. NATURAL GAS IN THE MEDIA *Loss Of Free Carbon Permits Make Centrica Stations Unprofitable – Bloomberg The loss of free-of-charge European Union carbon permits next year will make an unspecified
