To secure 3 million tonnes of LNG at a price lower than the offered $14 per unit, Indian government-owned natural gas processing and distribution company Gail India is negotiating with gas-rich Qatar. Gail India is offering to help Qatar Petroleum to buy 5 per cent equity in Petronet LNG. Gail India wants a price of $12.5 per unit for LNG.
Tag: LNG
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IOC to begin construction of LNG terminal at Ennore
By the end of 2013, Indian Oil Corp (IOC) plans to begin work on its liquefied natural gas (LNG) terminal project at Ennore near Chennai. The proposed terminal would be used to import natural gas from abroad and sell it in India, which faces severe shortage of the fuel. IOC is in the process of securing cons
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IGS to supply gas to India
Global oil and gas major BP plans to sell some of the US Freeport liquefied natural gas (LNG) in India through its joint venture firm Indian Gas Solutions (IGS). It may be recalled that IGS is a joint venture between BP and Mukesh Ambani-promoted Reliance Industries,. BP earlier agreed to buy 4.4 mn tpa of liquefaction tollin
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GSPC JV to rope in strategic investor for LNG terminal project
Gujarat State Petronet Corporation (GSPC) and Adani Enterprises (AEL) are jointly setting up a liquefied natural gas (LNG) terminal at Mundra in GujaratÂ’s Kutch district. The joint venture is in the process of roping in a strategic investor for 25 per cent stake in the project. It is learnt that eight firms, including India Gas Solutions, the joint
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GMB plans to add 46 mn t capacity in FY14
Gujarat Maritime Board (GMB) plans to add 46 million tonne (mn t) of capacity at the non-major ports in the state during 2013-14. Once this is achieved, the total cargo handling in non-major ports of the state would rise to 412 Million Tonne Per Annum (mn tpa), reports
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GAIL wants Petronet to renegotiate price of Aussie gas
GAIL India wants Petronet LNG to renegotiate the pricing agreement it signed for importing LNG from Australia's Gorgon project. Petronet LNG signed the agreement in August 2009
and under this, the company would import 1.44 million tonne per annum of liquefied natural gas (LNG) at a
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Foreign firms eye refinery, LNG projects in India
According to media reports, British Gas and British Petroleum are interested to set up oil refineries and LNG terminals in India. It may be noted that recently, government allowed 100 per cent FDI in oil refineries throÂugh the automatic rouÂte and this removes the need for a foreign company to tie-up w
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GAIL may import LNG at a landed cost of $10.5 per unit
According to sources from union oil ministry, the landed cost of the liquefied natural gas (LNG) to be sourced by the state-owned gas utility GAIL India from the US would be around $10.5 per mmBtu, based on the current Henry Hub price. Gas at US Henry, LA is currently traded at around $3.78 er mmBtu. In December 2011, GAIL entered into a pact with Houston-based Cheniere's Sabine Pass LNG terminal in w
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AP govt takes steps to boost oil and gas sector
Andhra Pradesh government has taken a series of initiatives to promote oil and gas projects in the state. For example, the state government is keen to expedite an LNG re-gassification terminal project – a floating one with a capacity of 3.5 mn tpa in Kakinada, which is to be upgraded to 5 mn tpa. AP Gas Distribution Corporation Limited (a joint venture of Gail Gas and AP Gas Infrastructure Corporation) and
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SP Ports, HPCL to form JV for Rs 50 bn project
SP Ports Pvt Ltd and Hindustan Petroleum Corp (HPCL) would soon sign a 50:50 joint venture agreement for setting up a liquid natural gas (LNG) terminal at Chhara in Gujarat. The state-run HPCL and the Shapoorji Pallonji group company would invest about Rs 5,000 crore on the terminal project, which is intended to