Originally, it was envisaged that the 2,150-MW power plant would shift to imported-LNG once the terminal is completed but now natural gas from Reliance Industries' eastern offshore D6 field is envisaged to fire the plant.
"There are eight companies (who have put in expression of interest)... RNRL is one of them," said A K Ahuja, managing director, Ratnagiri Gas and Power Pvt Ltd, the company that operates the nation's biggest gas-fired power plant and the adjacent LNG import facility. Others in the fray include state power utility NTPC and GMR. Ahuja said RGPPL will frame the bidding criteria and call for financial bids by next month.
Gazprom says it considered India as one of its key LNG markets.
India may dump Iran for Yemen and Qatar as a possible source of liquefied natural gas after the ministerial level talks failed to finalise a deal for New Delhi to buy five million tonnes of LNG.
Yamal LNG is a joint venture owned by OAO Novatek with 80 per cent and Total S A holding 20 per cent stake OAO Novatek holds 60 per cent stake in Yamal LNG, while Total S A and China National Petroleum Corp hold 20 per cent each
Royal Dutch/Shell may source liquefied natural gas from Oman, Qatar, Malaysia and Australia for sale in India from the first quarter of 2005.
National Thermal Power Corporation has extended by two weeks to May 12 the last date for bidding for its mega LNG supply tender, to enable Royal Dutch/Shell to cobble a joint bid with French oil giant Total.
Gail India Ltd will import spot LNG cargo from Algeria at $9.28 er million British thermal unit.
Qatar has agreed to supply 1.2 million tonnes per annum of liquefied natural gas to fire the Dabhol power plant in Maharashtra, but differences persist over the price.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
With India reluctant to pay a higher price for the liquefied natural gas contracted in 2005, Iran has proposed to sell the fuel to the Indian private sector.
The Government may be keen on having a greater say in affairs of Petronet LNG as it is looking at appointing a bureaucrat as director on board of the nation's biggest liquefied natural gas importer.
In a major technological breakthrough, oil retailer IBP Co Ltd has developed cryogenic trucks for transporting liquefied natural gas that eliminates need for conventional gas pipelines.
The government on Friday said companies wanting to import liquefied natural gas will have to use Indian-flagged vessels - a stipulation which may further delay commissioning of Royal Dutch/Shell's Hazira terminal in Gujarat.
Petroleum and Natural Gas Minister Ram Naik said on Wednesday that an agreement with Qatar had been finalised for supply of liquified natural gas from next year.
Iran on Tuesday denied existence of any contract for export of liquefied natural gas to India while stating that it cannot wait endlessly for New Delhi to join the Iran-Pakistan-India gas pipeline project.
Iran may put the $22 billion deal to sell liquefied natural gas to India on the backburner as New Delhi refuses to re-open the contract sealed two years ago, according to an assessment by the petroleum ministry.
Lower crude oil costs and higher marketing margins are expected to raise the fortunes of oil marketing companies (OMCs) in the first quarter (Q1) of 2023-24 (FY24), while city gas distribution (CGD) companies could also benefit from lower spot prices of liquefied natural gas (LNG). However, in a break from the past, growth trends are expected to diverge for various segments within the broad energy sector. Analysts expect the earnings from gas production to go down for upstream national oil and gas companies such as Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) due to the introduction of the new domestic gas pricing regime on April 1. After showing steep losses over the first half of 2022-23 (FY23), the marketing margins of OMCs have steadily recovered in four months.
The acquisition of stake in Progress Energy Resources Corp for 1 billion Canadian dollars ($900 million) mark IOC's maiden entry into North America.
The companies are in talks with Shell, Petronet LNG to book capacity
State-run Hindustan Petroleum Corporation Ltd on Wednesday said it was in advanced stages of talks with Shell India for picking up stake in its Hazira LNG terminal in Gujarat and a deal was possible this fiscal.
Large quantities of liquefied natural gas will start flowing into the country from the Dahej Terminal in Gujarat when it becomes operational from January next year, Petroleum and Natural Gas Minister Ram Naik said on Thursday.
India's first liquefied natural gas importer Petronet LNG Ltd will debut on the stock markets on March 26 when 260 million equity shares will be listed on the Bombay and the National stock exchanges.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
India will make another attempt to salvage the $22-billion deal to import LNG from Iran when Petroleum Minister Murli Deora meets the Islamic country's President Mahmoud Ahmadinejad in Tehran on Thursday.
There is no payment problem for Russian crude, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Wednesday. He said there is no proposal to cut retail fuel prices at the moment. Addressing a press conference, the minister said India enjoys a buyers' position and foreign suppliers are approaching Indian companies with offers to sell oil.
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India on Tuesday said its vote against Iran's nuclear plans will not affect the prospects of the proposed $7.4 billion Iran-Pakistan-India gas pipeline and its $22 billion deal to import LNG from Tehran.\n\n
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
GAIL (India) Ltd has pre-poned the supply of gas from the US and is looking to contract more LNG next year as it doubles down efforts to secure affordable energy supplies to meet the needs of Asia's third-largest economy, chairman Manoj Jain said. India's No.1 gas transporting and marketing firm has long-term liquefied natural gas (LNG) supply contracts from the US to Australia and with Russia, supplementing domestic gas supplies. "In 3Q (October-December 2021) we preponed a couple of cargoes (LNG shiploads) from supplies that we were to receive next year and we did it again in the current quarter," Jain told PTI. This is because US LNG costs one-third of the price of gas available in the spot or current market.
Qatar has agreed in-principle to hike the supply of liquified natural gas from the current five million tonnes to 20 MT within the next ten years to India and both the countries were likely to sign an agreement to this effect by May this year.
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