GE has refused the supply of crucial equipment needed to make LNG to Tehran. This can hit the $22-bn Indo-Iran deal.
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.
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.
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.
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.
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
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
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.
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.
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.
'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. '
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.
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.
Gail India Ltd will import spot LNG cargo from Algeria at $9.28 er million British thermal unit.
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.
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