Business Monitor International


Taiwan Oil & Gas Report

Published 24 January 2014

  • 90 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Taiwan Oil & Gas Report

BMI View: Taiwan is almost entirely dependent on imports to meet energy demand and is likely to stay in this state for the foreseeable future . A growing appetite for imported gas has created a need for fresh liquefied natural gas (LNG) purchase schemes, with Australian and Qatari volumes on the rise and Papua New Guinea set to become a new source of supply. The government has also allotted a monthly budget of approximately NT$17mn per month towards exploration activities , with operators eyeing deepwater exploration off Taiwan's south- western coast and near Itu Aba island, the largest island in the disputed and potentially oil - rich Spratly chain in the South China Sea.

The main trends and developments we highlight in the Taiwanese o il and g as sector are:

  • Rising oil prices announced by the nation's two oil refiners in December 2013 stoked concerns about supplies from violence-hit South Sudan. CPC Corp and Formosa Petrochemical Corp both announced NT$0.50 per litre rises

  • Exploration efforts are also centred around Itu Aba Island, which may prove to be a source of political tension between Taiwan and other South China Sea territorial claimants. This is particularly true for China, which has itself devoted considerable resources towards the exploration and development of oil and gas fields in both the South and East China Seas. The location for a third liquefied natural gas terminal has been finalised and is set to be constructed near Taipei. Operations are expected to commence in 2018.

  • Large industrial demand is inherent in the country's energy equation. Consumption of oil is therefore expected to move broadly in line with GDP trend. However, oil consumption growth could be slightly subdued with governmental plans to increase gas-fired power generation capacity, renewables and various policies aiming at increasing energy efficiency. Our forecast for crude oil consumption is for an increase from a planned 1.09mn b/d in 2013, to around...

Table of Contents

BMI Industry View
7
SWOT
8
Industry Forecast
9
Table: Taiwan Proven Oil & Gas Reserves And Total Petroleum Data, 2012-2017
9
Table: Taiwan Proven Oil & Gas Reserves And Total Petroleum Data, 2018-2023
10
Table: Taiwan Oil Production, Consumption And Net Exports, 2012-2017
11
Table: Taiwan Oil Production, Consumption And Net Exports, 2018-2023
12
Table: Taiwan Gas Production, Consumption And Net Exports, 2012-2017
13
Table: Taiwan Gas Production, Consumption And Net Exports, 2018-2023
14
Table: Taiwan Refining - Production And Consumption, 2012-2017
15
Table: Taiwan Refining - Production And Consumption, 2018-2023
16
Oil And Gas Reserves
16
Oil Supply And Demand
17
Gas Supply And Demand
18
LNG
19
Refining And Oil Products Trade
21
Revenues/Import Costs
22
Key Risks To BMI's Forecast Scenario
22
Industry Risk Reward Ratings
23
Asia - Risk/Reward Ratings
23
Table: Asia's Oil & Gas Risk/Rewards Ratings
24
The Upstream Leaders
24
Resource-Rich Countries Hit By State Involvement
26
Table: Asia Upstream Sector Risk/Reward Ratings
28
Downstream Support
28
Table: Asia O&G Downstream Risk/Reward Ratings
32
Taiwan - Risk/Reward Ratings
33
Taiwan Upstream Rating - Overview
33
Taiwan Upstream Rating - Rewards
33
Taiwan Upstream Rating - Risks
33
Taiwan Downstream Rating - Overview
33
Market Overview
34
Taiwan Energy Market Overview
34
Oil And Gas Infrastructure
35
Oil Refineries
35
Table: Refineries In Taiwan
35
Service Stations
37
Oil Storage
37
LNG Terminals
37
Gas Pipelines
37
Competitive Landscape
38
Executive Summary
38
Table: Key Players - Taiwan Oil & Gas Sector
38
Table: Key Upstream Player
39
Table: Key Downstream Players
39
Company Profile
40
Chinese Petroleum Corporation (CPC)
40
Formosa Petrochemical Corporation
46
Other Summaries
49
Regional Overview
50
Asia Overview
50
Gas Is Hot
50
Locking Eyes On Gas Production
53
Australia's LNG Roadblocks Open Up New Opportunities Elsewhere
54
Asia Fights Against LNG Prices
56
Seeking An Unconventional Rescue
59
Coalbed Methane: Underrated Potential
62
Refining Woes
62
Global Industry Overview
66
Appendix
73
Asia - Regional Appendix
73
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
73
Table: Oil Consumption - Long-Term Forecasts, 2015-2022 ('000b/d)
74
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
74
Table: Oil Production - Long-Term Forecasts, 2015-2022 ('000b/d)
75
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
76
Table: Refining Capacity - Long-Term Forecasts, 2015-2022 ('000b/d)
76
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
77
Table: Gas Production - Long-Term Forecasts, 2015-2022 (bcm)
78
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
79
Table: Gas Consumption - Long-Term Forecasts, 2015-2022 (bcm)
79
Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
80
Table: Net LNG Exports - Long-Term Forecasts, 2015-2022 (bcm)
81
Glossary
82
Table: Glossary Of Terms
82
Methodology
84
Industry Forecast Methodology
84
Source
86
Risk/Reward Ratings Methodology
86
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
88
Table: Weighting
90

The Taiwan Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Taiwan including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Taiwan Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Taiwanese oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for Taiwan to test consensus views - a key input for successful budgeting and strategic business planning in the Taiwanese oil and gas market.
  • Target business opportunities and risks in the Taiwanese oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Taiwan.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Regional Overview

Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Business Environment Ratings

BMI's Oil and Gas Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.

The ratings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Ratings products.

Oil Market Outlook and Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil products

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs

Production, Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven gas reserves (tcm), production and consumption (bcm)

Imports and Exports: Oil exports/imports (`000b/d), value of oil exports/imports (US$mn - BMI base case); Value of oil exports at constant US$50/bbl and constant US$100/bbl (US$mn); Gas exports/imports (bcm), Value of gas exports/imports (US$mn); Value of gas exports/imports at constant US$50/bbl and US$100/bbl (US$mn); Value of petroleum exports/imports (US$mn); Value of petroleum exports/imports at constant US$50/bbl and US$100/bbl (US$mn)

BMI Macroeconomic Forecasts

BMI forecasts to end-2018 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.

Competitive Landscape

Comparative company analyses by US$ sales, % share of total sales, number of employees, year established, ownership structure, oil production ('000b/d), gas production (bcm), downstream capacity ('000b/d) and % market share.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc