Union Oil Minister M Veerappa Moily informed that India may have LNG re-gasification capacity of over 50 million tonne per annum (mtpa) by 2016-17 with a supply of 198 million standard cubic metre per day. Currently, India has 18.6 mt of re-gasification capacity - 10 mt terminal at Dahej and 3.6 mt plant at Hazira in Gujarat
Category: Oil & Gas
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J&K pipeline project cleared
Jammu and Kashmir (J&K) Governor NN Vohra signed the Ordinance which would allow state government to acquire land for the Rs 880 crore Bhatinda-Srinagar gas pipeline project.
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Govt to release shale gas policy
Union government would announce policy on exploration and production of shale gas soon. The ministry will finalise the policy once it receives comments from different ministries.
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Centre finalises Rs 2,000-cr budget for Puducherry
For Puducherry's annual budget plan for 2013-14 the Union government finalised at Rs 2,000 crore on June 27. The outlay includes Central assistance of about Rs 783 crore, in addition to about Rs 100 crore for Centrally-sponsored schemes. The Plan size was finalised at a meeting in Delhi between Deputy Chairman of Planning Commission Montek Singh Ahluwalia and Chief Minister of Puducherry N Rangasamy.
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CCEA clears proposal to hike gas price to $8.4 per unit
On the basis of the suggestions made by the Rangarajan committee, the Cabinet Committee on Economic Affairs (CCEA) decided to raise the price of domestic natural gas, from $4.2 to $8.4 a million British thermal unit (mBtu), from April 2014. Once the new price is adopted, it would be revised on a quarterly basis for a period of five years, reports indicate
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Govt hiked gas price to hit power, fertiliser firms
As the Union government hiked gas price on June 28 will benefit a lot the government-owned Oil and Natural Gas Corp (ONGC) and private major Reliance Industries (RIL), power and fertiliser companies will see their fuel costs shooting up substantially. As the power industry, a major consumer of natural gas, operates on the principle of pass-through of fuel costs to consumers, Indian consumers will have to shell out more for electricity, say analysts.
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OIL, OVL to buy stake in Mozambique gas field for $2.47 bn
In Mozambique, Indian State exploration firms ONGC and Oil India (OIL) have signed a $2.48-billion deal to acquire 10 per cent stake from Videocon in a giant gas project in the African country. The acquisition deal may help ship an estimated 6 million tonne a year of liquefied natural gas (LNG) to India. ONGC Videsh (OVL), the overseas arm of the State explorer, said the deal marks its entry into a world-class project with significant upside potential, and would help it achieve long-term product
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GAIL gets interim relief from HC order
In an interim relief to Gas Authority of India (GAIL), the Madras High Court stayed an order passed by the Tamil Nadu government for removal of pipelines laid by the gas utility major in farm lands in the state. GAIL was laying pipeline in some farm areas of Tamil Nadu as part of its Kochi-Bangalore pipeline project. However, farmers raised objection to the project in the state and this prompted the state government to disallow the project
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India, Hungary firm tie-up for a joint gas monitoring system
For a gas monitoring system, Gujarat Info Petro has signed an agreement with Cason Engineering Plc, Hungary, in pursuant to the already signed MoU during the Vibrant Gujarat Summit-2013. Gujarat Info Petro is a subsidiary of Gujarat State Petroleum Corporation.
The agreement was signed by VK Sharma, CEO, Gujarat Info, and Ferenc SzakĆĀ”cs, Chairman and CEO of Cason, according to a release issued in Gandhinagar.
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Moily moots Mangalore-Chennai corrodor via Blore
The Union Minister of Petroleum and Natural Gas Marpadi Veerappa Moily has taken initiative to speed up work on the Mangalore Special Economic Zone (MSEZ). There are complaints that the work on MSEZ was delayed due to improper road connectivity. A meeting should be held with the residents residing in the areas and the problems need to be solved within ten days, said Moily.