Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
Petronet LNG Ltd, which will become India's first LNG importer when Qatari RasGas' cargo lands at its Dahej import terminal in January next, has planned an initial public offering of equity shares in the same month.
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.
Qatar is set to reach a liquefied natural gas production target of 77 million tonnes per annum, the world's largest LNG capacity, the country's energy minister has said.
ExxonMobil-owned RasGas will supply liquefied natural gas by December to restart the Dabhol power project in Maharashtra, a top official said on Friday.
Iran on Thursday made no firm commitments of honouring the $22-billion deal to export LNG to India but said will look at "ways" for early implementation of the two-year-old contract.
Global oil and gas majors Shell and ConocoPhillips have offered to sell Australian liquefied natural gas to India to meeting its growing energy needs, petroleum secretary S C Tripathi said on Monday.
GE has refused the supply of crucial equipment needed to make LNG to Tehran. This can hit the $22-bn Indo-Iran deal.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
India plans to buy more liquefied natural gas from Qatar and will expand the capacity of its Dahej LNG terminal to 10 million tonnes a year from the present five million tonnes.
State-owned Gail India Ltd, which has been given the task to source fuel for restarting the Dabhol power project in Maharasthra, is talking to LNG suppliers in Qatar, Australia, Malaysia, Oman and UAE.
Qatar and Australia are likely to supply fuel for restarting the $3 billion Dabhol Power Project in Maharasthra from the fourth quarter of 2006.
the terminal will not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies
Royal Dutch/Shell will receive the first cargo of liquefied natural gas at its Hazira terminal in Gujarat this month.
With a view to open price bids next month, National Thermal Power Corporation will begin discussions with four bidders, including Reliance Industries, for supplying three million tonnes of LNG.
Petroleum industry Friday demanded abolition of 5 per cent customs duty on imported LNG and a uniform 4 per cent sales tax on LNG throughout the country to promote its use.
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
Area residents and environmental groups have resisted the coal power plant ever since it was originally proposed in 2006 due to worries about land clearance and pollution
Public sector Petronet LNG Ltd will deliver liquefied natural gas imported from Qatar at $3.6-37 per million BTU, matching the prevailing price of domestic natural gas.\n\n
Petronet has concluded term sheets for all agreements for buying 1.5 million tonnes a year of LNG from Exxon Mobil Corp for 20 years, beginning 2014, company Managing Director and CEO Prosad Dasgupta told PTI. Petronet will import the LNG at its under-construction Kochi terminal in Kerala.
Appoints Foster Wheeler as consultant to prepare project report.
The government may subsidise costly imported gas by making users of cheaper domestic gas pay more under its unique plan to rationalise gas prices, a source in knowledge of the development said.
GAIL (India) Ltd is in talks with US energy major Exxon for importing 5 million tons of liquefied natural gas at Dabhol, company chairman U D Choubey said on Wednesday.
Plans to build a pipeline from the Chayanda gas field in East Siberia to the proposed Vladivostok LNG facility
The government is considering selling Dabhol Power Plant's LNG terminal after hiving it off from the electricity generating unit, due to delays in completion of unfinished part of the terminal and huge cost-overruns, a power ministry official said.
India's $22 billion deal to import liquefied natural gas from Iran hangs in balance with Tehran on Tuesday asserting that the agreement was not binding as it has not been ratified by its Supreme Economic Council.
If the talks materialise, this would mark Hyundai's foray into the LNG terminal construction space in India.
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