I am calling it, the rumble in the pacific. Heres our Competitors:
================================= In the Blue corner we have Japan.
Population 127m people.
GDP$5.4Trillion.
GDP Growth + Inflation 5yavg = 0% + 0%.
Australias Primary Export: COAL. $13Bn.
Japans Principal Export destination: China.
Japans principal import destination: China.
Current (2010) LNG annual imports = 70mmtpa
Consumption (2010): 3,400 BCF
Natural Gas reserves (BP) = ~700BCF (around 13mt, or less than 20% of their LNG imports in ONE year)
.Best Retrospective Quote on Energy Use= A declining population and aging labor force limit the country's natural gas demand in the long term. Moreover, new nuclear generation capacity projected for Japan limits the need for additional natural-gas-fired generation after 2015. EIA Outlook 2010
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In the Red corner we have China.
Population 1,340m people.
GDP$6.4Trillion.
GDP Growth + Inflation 5yavg = 10% + 3%.
Australias Primary Export: IRON ORE. $25Bn.
Chinas Principal Export destination: USA.
Chinas Principal Import destination: Japan.
Current (2010) LNG annual imports = 9mmtpa
Consumption 2010: 3,700 BCF
Natural Gas reserves (BP) = ~105,000BCF (around 95mtpa for the next 20 years)
Best Retrospective Quote on Energy Use= China has become a net importer of the clean fuel since 2006 and its imports may reach 30 billion cu m this year from 2010, the report showed. That will include 15 billion cu m of piped gas and 120 million tons of LNG. CNPC Report on China Nat Gas use - OilVoice 24 Jan 11
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I would hazard a guess that Indonesia and Malaysia are also on their shopping list, but how easy is it to go shopping in those neighborhoods, what with all their own population and energy problems.
SF
ESG Price at posting:
72.5¢ Sentiment: Buy Disclosure: Held
