Sakhalin Energy, the consortium that operates the Sakhalin II LNG project in Russia, is seeking higher prices for LNG sales from Korea’s Kogas, the world’s largest LNG buyer, sources have told Bloomberg. The contract is linked to Brent crude prices, which have risen substantially since it was signed eight years ago. The article indicates that Kogas… Keep reading →
The world uses about 91 million barrels of oil per day. And most forecasts suggest that oil consumption will rise over the next few decades, driven in large part by growing demand for transportation fuels, especially in Asia. Norway’s state-owned oil company, Statoil, predicts that oil demand will peak at around 105 million bbl/d in… Keep reading →
The Korea Smart Grid Association is launching a national program to encourage and support the creation of smart grid patents that meet international standards. Energy Korea reported that the organization is supporting companies, universities and research institutions that want international patents. The association is taking the lead in developing technologies and standards that can be baked into future patents.
The association also has a special emphasis on strengthening the global competitiveness of innovative small and mid-sized businesses, which would not normally have the sophistication necessary to deal with international patent issues. It is also emphasizing technologies that can become de facto standards or “platforms” that “can enjoy both market power and monopolistic strength.” Keep reading →
A year ahead of a global meeting of energy leaders in Daegu, South Korea, the country’s push ahead on smartgrid technology development has been highlighted by a new report from the World Energy Council.
South Korea’s Jeju Island project will be the world’s largest smart grid system of its type when complete, the WEC said in announcing the new report today, one year ahead of the World Energy Congress set for Daegu. Keep reading →
