A committee headed by C Rangarajan, Chairman of the Prime MinisterÂ’s Economic Advisory Council (PMEAC), suggested an annual revision in the price of natural gas produced in the country. The revision should be based on monthly moving average of net back price for producers of Indian LNG and the other volume weighted price of USÂ’s Henry Hub, UKÂ’s
Tag: natural gas
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Ministry to take shale gas policy before cabinet
Noting that India has the potential to exploit shale gas, Union Oil Minister M Veerappa Moily informed that the proposed policy shale gas would be taken before the cabinet for approval soon. He also said that the shale gas policy that his ministry was working on was a positive and forward-looking one. Shale gas is an important source and potential of oil world over,
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Panel suggests production-linked deals
In order to overcome problems associated with the cost-recovery contracts in oil and gas exploration sector, a high level panel recommended the government to adopt production-linked contracts wherein companies would be chosen based on the amount of output they are willing to share with the government. The committee, under the PM's Economic Advisory Council ( PMEAC) Chairman C Rangarajan, proposed a mod
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City gas distribution is in evolution stage
The policy makers, regulator and CGD companies must come together and work towards bringing about positive changes in the sector to maintain its attractiveness, writes Samrat Chauhan.
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China govt discovers 5 bn tonne of oil in 2008-2011
According to reports, China has made progress in the discovery of 5.01 billion tonne of oil reserves and other natural resources between 2008 and 2011. Besides, 2.6 trillion cubic meters of natural gas and 279.8 billion tonne of coal have been discovered, said the China government report on land administration and mining resources.
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Gas output may decline in FY13
A recent report from the oil ministry shows that India's natural gas production may decline to around 104 mmscmd in 2012-13 from 114.90 mmscmd in the previous fiscal. The report attributes the possible decline in gas output mainly to the fall in KG-D6 output to 23 mmscmd from over 30 mmscmd last year. The report also expects a sharp rise in imports of lique
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BP, RIL start drilling well on satellite fields
As part of its plan to develop four satellite gas fields for $1.529 billion, UK-based energy major BP started drilling a well on the D-19 field, also called Satellite-1 field. The field is located around the now producing Dhirubhai-1 and 3 or D1&D3 fields in the Krishna Godavari basi
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Govt to encourage exploration of alternative energy sources
Government attempts to bridge the ever-increasing demand-supply gap of petroleum products by encouraging exploration of alternative sources of energy such as coal-bed methane, shale gas, gas hydrates, ethanol and biodiesel. This information was given by the Union Minister of State for Petroleum and Natural Gas Panabaka Lakshmi during the
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JHPL project to be synchronised with gas demand
Ministry of Petroleum & Natural gas or GAIL informed that the completion of Jagdishpur-Haldia Pipeline (JHPL) project would be synchronised with gas demand of the prospective customers and the availability of gas from the east coast. The gas sources considered for JHPL were D-6 gas through Kakinada – Haldia pipeline, ONGC Mahanadi and CBM from Shadol. This information was given by the Minister of State for Chemicals and Fertilisers, Srikant Kumar Jena in a written reply
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AP LNG plant may handle 3.5 mn t gas
The LNG floating and processing plant near Kakinada in Andhra Pradesh would handle 3.5 million tonne of gas per annum when it becomes operational, reports suggest.The plant, which is being jointly set up by Andhra Pradesh Gas Distribution Corporation, French company GDF Suez and Gail Gas (part of GAIL