Petronas to Produce 5 Billion cm of Gas in Turkmenistan

The Turkmenistan government had announced that Malaysian state oil firm Petronas could produce up to 5 billion cubic metres of gas annually in the Turkmen portion of the Caspian Sea with opportunity to double up the capacity in the near future.

Petronas had invested about $2 billion in the Caspian shelf project since 1996 and is likely to be the sourced for the planned Nabucco project. The Nabucco project will be responsible to ship gas volumes of Central Asian gas to Europe.

Caltex to Expand Distributorship through Chevron

Chevron Corp under its Malaysian wing, Chevron Malaysia Ltd is planning to expand the petrol distributorship in the Malaysia through its Caltex brand. The expansion of Chevron's local network of Caltex service stations and the availability of its highly quality Techron products will include a target of 30 additional stations next year.

Chevron currently operates and manages some 420 service stations in the Peninsular of Malaysia which at this time offering dedicated service stations, asphalt and lubricants.

Italy Triton LNG Terminal Postponed

GDF Suez has postponed the start-up of its Triton LNG terminal in Italy from 2012 to 2013. However, the date is yet to be confirmed as the company has not taken the final investment decision. The comissioning date of 2013 may be due to lengthy process of protocols with the local and national authorities of the LNG terminal. Italy is venturing into many LNG projects as Qatar had earlier agreed to lower prices of LNG over the long run. The agreement was much influenced by the European countries as a whole.