P Dasgupta was on Thursday appointed the managing director and CEO of Petronet LNG Ltd, India's largest liquified natural gas importer.
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.
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.
Qatar has halted liquefied natural gas (LNG) production after its facilities came under attack amid the ongoing West Asia conflict, disrupting supplies to India and squeezing feedstock availability for key domestic sectors.
Qatar, India's largest supplier of imported natural gas, has declared force majeure on deliveries following a halt in production in the wake of an Iranian drone strike -- a disruption that has led to a cut in supplies to Indian industry by up to 40 per cent, sources said.
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.
Asian Development Bank and ExxonMobil-promoted RasGas of Qatar have taken 10 per cent equity each in Petronet LNG Ltd, the public sector joint venture firm which will begin importing liquefied natural gas from January next year.
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
The Asian Development Bank will invest $75 million in Petronet LNG Ltd for taking 5.2 per cent equity stake even as ExxonMobil-promoted RasGas of Qatar desired to pick 10 per cent stake in India's first liquefied natural gas importer.
The shares of Petronet LNG Ltd were on Friday listed on the Bombay Stock Exchange and first trade was struck at Rs 16.50 per share for 500 scrips.
Petronet LNG Ltd, India's largest liquefied natural gas importer, is eyeing equity in LNG plants in gas exporting countries even as it plans to invest Rs 4,000 crore
Petronet LNG Ltd will sell India's first liquefied natural gas from January next at around $3.6 per million BTU (British Thermal Unit), almost the same price as that of the private domestic natural gas producers.
Petronet LNG Ltd, India's largest liquefied natural gas importer, expects to sign a contract by the end of July for import of 2.5 million tonnes of LNG from Chevron Corp's Gorgon project in Australia.
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.
India on Friday received its first-ever import cargo of liquefied natural gas (LNG) at Dahej in Gujarat, that will help bridge the huge natural gas deficit in the country.
Two more Indian-flagged LPG tankers have begun their journey from the Persian Gulf, navigating the Strait of Hormuz amidst regional conflict, following disruptions caused by recent tensions in the Middle East.
A senior government official confirms that Indian vessels do not require permission to navigate the Strait of Hormuz, despite regional tensions. Several Indian ships, including LPG tankers, have safely crossed the strait, ensuring continued supply of essential commodities to India.
There was a time when gas was offered to India at a cheaper price but we could not close those deals.
Petronet LNG Ltd will seek equity in Ratnagiri Gas and Power Ltd, a JV between NTPC and GAIL for restarting the Dabhol Power Plant, in view of sourcing LNG to the beleagured plant.
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.
The bidding for Petronet LNG Ltd's initial public offering has received a good response with subscription of 2.42 times the offered shares at the end of the bidding process on Tuesday.
National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
The initial public offering for Power Trading Corporation Ltd has received an overwhelming response with investors putting pledge for 16.5 times the issue size at the end of bidding process on Monday.
After GAIL, Indian Oil Corp has expressed interest in buying out Asian Development Bank's 5.2 per cent stake in Petronet LNG Ltd, company chairman Sarthak Behuria said. However, if the state-run promoters of Petronet are not allowed to raise stake in the company for fear of it becoming a public sector unit, Behuria suggested selling ADB's shareholding to the public.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
Petronet LNG Ltd, India's largest liquefied natural gas importer, will raise $100 million through foreign currency convertible bonds in June-July, which would result in its promoters ONGC, GAIL IOC and BPCL shareholding falling by 7.5 per cent.
Gail (India) Ltd, the public sector gas firm, on Tuesday announced that it has tied up the sale of its share of LNG being imported from Qatar and said the regassified LNG from Dahej is the most competitive fuel for power and fertilizer units.
A government missive to Petronet LNG Ltd on appointment of the company's new managing director and chief executive officer may trigger Securities and Exchange Board of India's takeover code
India on Wednesday offered Qatar a 10 per cent stake in Petronet LNG Ltd to get the worlds largest liquefied natural gas exporter to sell 18 more LNG cargoes this year and agree on a long-term supply deal for meeting fuel needs of beleaguered Dabhol power plant.
The company has begun discussions with foreign players besides Petronet LNG Ltd for jointly developing the Rs 4,500-crore (Rs 45-billion) terminal.
French gas major Gaz de France will hedge the risk of India's first liquefied natural gas importer Petronet LNG Ltd against market uncertainties.
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