BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
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.
Dredging of the sea-channel leading to the Dabhol terminal is likely to be completed by end of 2011 but the construction of a breakwater that will guard ships against high tides, was not likely before 2013-14.
India and Japan's effort to form a multilateral group of liquefied natural gas buyers to avoid paying higher prices for the fuel is laudable as an objective but is unlikely to be effective immediately.
The company is building floating LNG terminal in joint venture Reliance Power.
US energy major Enron Corp's original contractors for the $2.96-billion Dabhol power project will complete the unfinished LNG terminal to restart the stalled 2,184 MW plant by next year.
The proposed Rs 7,000-crore (Rs 70-billion) petrochemical complex of Gas Authority of India at Kochi has been shelved for the time being due to technical issues, according to Minister of Petroleum and Natural Gas Murli Deora.
Reliance Industries Ltd, India's largest private firm, is keen to take over the Dabhol power plant to fulfill its long planned ambition of having an LNG import facility on the west coast, a company official said.
India 'throws up' investment opportunities for Qatar investors.
The Russian embassy in Warsaw said by email that it "does not comment on such topics".
Global energy giant Shell has acquired Mumbai-based Raj Petro Specialities to deepen its foothold in the world's third biggest lubricants market in the world, a top company official said. Shell, which has already invested over $5 billion in India across the energy value chain -- from LNG import terminals and fuel stations to renewable energy and technology centres -- has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
Gas Authority of India Ltd on Monday said strong winds of over 40 knots caused an accident at Petronet LNG Ltd's R-LNG terminal at Dahej, when the tug boats of LNG carrier 'Disha' hit the dolphin piles of the jetty on September 17.
Petronet LNG Limited is expected to deliver liquefied natural gas from its Dahej terminal at Rs 6,567 per million standard cubic metres (mscm), provided the international price of crude remains at $16 a barrel.\n\n\n\n
Petronet LNG Ltd will begin supplying liquefied natural gas imported from Qatar, Egypt, Algeria and Oman to the beleaguered Dabhol power plant once a small 15-km stretch of pipeline is completed, a company official said.
The beleaguered Dabhol power project has hit a fresh roadblock with Punj Lloyd and its British partner Whessoe, the contractors for completing the LNG terminal, threatening legal action against Ratnagiri Gas and Power Pvt Ltd for default on payments.
Royal Dutch/Shell will receive the first cargo of liquefied natural gas at its Hazira terminal in Gujarat this month.
Shell had last imported LNG cargo at its Hazira Terminal in Gujarat on Oct 13, 2008 from Trinidad and Tobago at $20.5 per mmbtu. On the $9.06 per mmBtu import price, a five per cent custom duty will be levied, taking the landed cost to $9.4 per mmBtu.
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.
Trump spoke approvingly of his recent telephone conversation with Xi Jinping. This could indicate the possibility of America and China reaching some level of tactical accommodation, which would not be good news for India, points out Ambassador Shyam Saran, a former foreign secretary.
ONGC and the Hinduja group are lining up investment of close to $20 billion in exploration assets in Iran and a refinery and LNG terminal in India.
Gas Authority of India Ltd, which signed a memorandum of understanding with the state government recently, will spend Rs 2,000 crore (Rs 20 billion) this year to lay the pipeline, a senior company official said.
GAIL (India) Ltd has agreed to infuse an additional Rs 500 crore (Rs 5 billion) into Ratnagiri Gas and Power Pvt Ltd to enable the owner of the beleaguered Dabhol plant to clear pending dues of contractors.
The plant will start functioning to its fullest by the end of January 2008, after delay of one-month from previous schedule.
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.
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.
Power major NTPC on Friday said it plans to foray into nuclear power generation.
