Unnecessary litigation scaring foreign investors

Of recoverable reserves through improved recovery rate gas fields of Japan's largest and "Minami Nagaoka Gas Field" The '20 extended pic.twitter.com/u28yaz9gfh more condensate production of 3100 barrels of gas and 1.23 million cubic feet Nissan (light oil) from 1984 in the extension of the production period and increase Minami Nagaoka gas field, collected http://www.inpex.co.jp/news/pdf/2014/ than the atmospheric depth of 5,000 meters from about 4,000 underground gas fields of Japan's largest INPEX held 20140919.pdf ... Of recoverable reserves through improved recovery rate gas fields in the country's largest "Minami Nagaoka Gas Field" And increase the extension of the production period (inform) INPEX Corporation (hereinafter, the Company), we are working on the development and production business, which is the gas field in the country's largest "Minami Nagaoka Gas Field" as (Operator) operations principal. For the same gas field, to start the production and condensate natural gas (especially light crude oil) than in 1984, we have stable production over 30 years now, but this time, improvement of the recovery rate of the gas field we've decided that a main purpose the extension of production period and the accompanying increase in recoverable reserves by, to undertake facility expansion of Koshiji Koshijihara original plant that is doing the refining and processing of natural gas (※) , I will inform you. Facilities to improve the gas delivery capacity of the well, such as separator and (※) booster It is a gas field of the nation's largest located in the inland of 10 kilometers south-west of Nagaoka, Niigata Prefecture, Minami Nagaoka gas field, producing a condensate of about 3,100 barrels per day of natural gas and about 123 million scf per day get off. The 20 further from the current assumptions also for the production period to improve the recovery rate of the gas fields by equipment enhancement of Koshijihara plant to undertake this time, recoverable reserves of natural gas, crude oil and condensate, and also increased by approximately 20% it is extended about a little less than a year, to contribute to the gas supply stable and our efficient use and effective of valuable domestic energy resources is expected. Natural gas produced from the Minami-Nagaoka gas field, refining and processing at Oyazawa your Yazawa plant and Koshijihara plant It is, total length about spread to Kantokoshin'etsu held by the Company It has been supplied to customers through the natural gas pipeline network of 1,400 km. The Company, in order to cope with domestic natural gas demand that strong growth is expected in the future, in addition to new and enhancement of core pipeline, along the "INPEX medium and long-term vision", our company developed and manufactured overseas we are working to establish ties organically infrastructure of domestic natural gas business and the LNG business of "gas supply chain." So as to promote the effective use of further domestic energy resources, you can use with peace of mind the natural gas environmentally friendly to everyone more over a long period of time, we will continue to strive. Or more ========================= 世界最大日立ＬＮＧタンクの約1600㌧の屋根を５時間かけて持ち上げた ＬＮＧタンクの底部で組み上げた屋根を、空気の圧力で押し上げる工事（エアレイ­ジング）が行われた Lifted over 5 hours of roof about 1600㌧ the world's largest Hitachi LNG tank Was performed (air lasing) Construction boost pressure of the air, the roof is assembled at the bottom of the LNG tank... The 15th (not / equivalent) Fifth Pier Port of Hitachi, Ibaraki, Minato-ku, Tokyo Gas was published in the press Hitachi LNG under construction in (Hitachi City Tome-machi) and (liquefied natural gas) base. Has been performed (air Raging) construction over about four and a half hours from 8:00, by pushing up with the pressure of the air, the roof was assembled at the bottom of the LNG tank this day. It is aimed at running of March 2016 in the company. LNG tank about 86m ㍍ diameter, about 59m ㍍ height. In 230 000 liters ㌔㍑ that the world's largest as aboveground tank, storage capacity can be supplied to city gas equivalent to about 340 000 hotels of annual usage of household. 180,000 liters ㌔㍑ in aboveground, the largest, was 250,000 liters ㌔㍑ is of the type in which the underground until now. The roof is about 1600 tons ㌧ weight. Is fed from the air blower, and is pushed up to a height of about 38m ㍍ over 4 and a half hours. According to the company, raised roof construction of the LNG tank by the air Raging is the first time in the prefecture. Has three factories in the Tokyo Bay in the company, the base is four places first. It will strive to strengthen supply in South North Kanto and Tohoku in the establishment of the base, there is also the aim of hedging against disasters such as capital Earthquake. And seawalls of 8m ㍍ above sea level, etc. hit the pilings to bedrock underground 60m ㍍ the structure, the base is also to strengthen the preparedness for earthquake and tsunami. Construction began on July 12, 60% has been completed. In addition to the LNG tank, I will develop a large pier and dedicated LPG vessels and tanks (50,000 liters ㌔㍑). Pipeline connecting the existing pipeline of Tochigi Prefecture Moka and the same base total project cost - including the cost of laying "Ibaraki Tochigi trunk", is about 120 billion yen. 東京ガスは15日、茨城港日立港区の第５埠頭（ふ／とう）（日立市留町）に建設中の日­立ＬＮＧ（液化天然ガス）基地を報道陣に公開した。この日は午前８時から約４時間半掛­けて、ＬＮＧタンクの底部で組み上げた屋根を、空気の圧力で押し上げる工事（エアレイ­ジング）が行われた。同社では２０１６年３月の稼働を目指している。 　ＬＮＧタンクは直径約86㍍、高さ約59㍍。貯蔵能力は地上式タンクとして世界最大と­なる23万㌔㍑で、一般家庭の年間使用量の約34万軒に相当する都市ガスを供給できる­。これまで最大のものは、地上式で18万㌔㍑、地下に埋設するタイプでは25万㌔㍑だ­った。 　屋根は重さ約１６００㌧。送風機から空気を送り込み、４時間半掛けて約38㍍の高さま­で押し上げられた。同社によると、エアレイジングによるＬＮＧタンクの屋根上げ施工は­県内では初めて。 　同社では東京湾岸に３工場を有し、同基地は４カ所目。同基地の新設で北関東や南東北で­の供給力強化を図るとともに、首都直下地震など災害に対するリスクヘッジの狙いもある­。同基地も海抜８㍍の防潮堤と、構造物には地下60㍍の岩盤までくいを打つなど、津波­や地震への備えを強化している。 　工事は12年７月に着手し、６割が完了している。ＬＮＧタンクのほか、ＬＰＧタンク（­５万㌔㍑）や専用船の大型桟橋などを整備する。総事業費は同基地と栃木県真岡市の既存­パイプラインを結ぶパイプライン「茨城―栃木幹線」の敷設費も含め、約１２００億円と­なっている。 6-10-1 Roppongi Minato-ku, Tokyo www.robuchon.com =============== Unnecessary litigation scaring foreign investors By Zafar BhuttaPublished: July 27, 2014 US authorities took up the Mashal LNG case with the Pakistan government and asked it to come up with sustainable policies in order to protect the interest of investors. PHOTO: FILE ISLAMABAD: Foreign investors, discouraged by sometimes unnecessary litigation, are gradually losing interest in Pakistan, putting future capital flows into the country at stake. To avert the trend and woo investors, the government needs to mull over establishing audit or corporate courts in order to swiftly address the issues faced by local and foreign companies. Many international oil and gas companies have pulled out by winding up their operation in the wake of dispute with the government over different issues. Most of them are fighting tax cases in courts. The country has lost an opportunity to bring cheaper liquefied natural gas (LNG) supplies at $11 per million British thermal units (mmbtu) under the Mashal project while in copper and gold mining Tethyan Copper Company (TCC) has approached an international court. In the area of liquefied petroleum gas (LPG), Progas filed a case in the international court, claiming damages of $500 million and blaming its losses on a shift in government’s policy. In this scenario, experts suggest the government should dissolve the National Accountability Bureau (NAB) and strengthen the Auditor General of Pakistan in matters pertaining to investigation into business deals. The time is ripe to set up audit and banking courts so that the auditor general could pursue cases as NAB has been used and influenced by different governments for victimisation. Present courts have no expertise in dealing with business disputes as happened in the case of Mashal LNG project where the apex court asked the Ministry of Petroleum and Natural Resources to take it up for reconsideration before the Economic Coordination Committee (ECC) of the cabinet. In a case relating to a scam in the Oil and Gas Regulatory Authority (Ogra), NAB was coming up with different stories as initially it claimed a Rs82-billion scandal in the decision on increasing the unaccounted-for-gas (UFG) ceiling from 5% to 7%. However, in a fresh reference, it said the size of the scam was Rs26 billion, leading people to raise questions over the probe conducted by the bureau. It also filed two different investigation reports which were challenged in court. In the first report, which took two and a half years, there was no allegation on a big brokerage house. However, in the second report which took only a few days, its name was included while some big names were removed. This came despite the fact that the Securities and Exchange Commission of Pakistan ruled out in May 2013 any insider trading by stock brokers in shares of gas companies and a report in this regard was presented to the policy board. However, the report was later dumped. Investor concerns Some major foreign investors like the US and UK also questioned the legal system in Pakistan, in particular they objected to court cases against foreign firms in the Mashal LNG project. In their view, things like these send bad signals to foreign investors. Officials say the US authorities took up the Mashal case with the Pakistan government and asked it to come up with sustainable policies in order to protect the interest of investors. With the Mashal episode in investors’ minds, the previous government conducted roadshows in an effort to attract investors to bid for hydrocarbon exploration licences, but no new foreign company expressed interest in the auction of exploration blocks held in March 2013. International donors are also concerned about court cases. Top officials of the Asian Development Bank once told journalists that they were against the setting up of rental power plants, but the government should have honoured the agreements once they were made with the investors. The investors are already shy of making investment in the country over law and order concerns and to encourage them the government should dissolve NAB, strengthen the auditor general and establish audit or corporate courts. Published in The Express Tribune, July 28th, 2014. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.