The Cabinet Committee on Economic Affairs had first on June 27, 2013, and then on December 19, 2013, decided to price all domestically produced natural gas, including unconventional fuels such as coal-bed methane and shale gas, at an average of international hub rates and the cost of importing liquefied natural gas.
Media has raised the issues that new pricing to benefit Reliance Industries.
IOC has asked consumers to book LPG refill through IVRS or SMSes so that refills reach genuine users.
The company is building floating LNG terminal in joint venture Reliance Power.
OVL, along with Oil India Ltd, had in June agreed to buy Videocon Group's 10 per cent in the same block for $2.48 billion.
Rating agency Crisil said on Friday that Asian spot LNG prices are expected to go up in the short term due to power generation disruptions in Japan.
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.
Between fiscals 2009 and 2014, India's energy import bill surged at an average 14 per cent annually to $161 billion.
"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.
Energy-hungry China has signed a landmark $40 billion deal to buy liquefied natural gas (LNG) from Australia for 20 years that Chinese officials say would put the strained relations between Beijing and Canberra back on track.
Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 commitment of cutting emission intensity by 33-35 per cent.
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.
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
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 2,140-Mw Dabhol power plant, operated by Ratnagiri Gas and Power Pvt Ltd, continues to remain idle even though the Supreme Court has vacated the stay by the Gujarat high court on pooling of gas prices.
Russia will significantly boost the supplies of Liquefied Natural Gas to energy-hungry India from 2016, President Dmitry Medvedev has announced. Mentioning the success of ONGC Videsh Ltd venture in Sakhalin-1 offshore oil block, Medvedev, who along with Prime Minister Manmohan Singh addressed a CEOs' forum of the top companies of the two countries in Moscow on Friday evening, also expressed Russia's interest in expanding cooperation with India in hydrocarbons.
Ahmadinejad, who is the first Iranian Head of State to undertake a visit New Delhi in five years, was received warmly by Minister of State for External Affairs E Ahamed at the Indira Gandhi International Airport. Ahmadinejad, who arrived in New Delhi from Sri Lanka, will hold talks with Prime Minister Manmohan Singh on a wide range of issues during his five-hour visit.
the terminal will not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies
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.
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.
Electricity from Dabhol project in Maharasthra, which is being targeted to restart from July 2006, may cost over Rs 3 a unit as LNG suppliers quote twice the price of gas than the previous estimates.
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
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.
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
If the talks materialise, this would mark Hyundai's foray into the LNG terminal construction space in India.
Bangladesh government has shortlisted bidders for a 5-mt LNG terminal at Moheshkhali island in the Bay of Bengal.
The government on Thursday more than doubled the price of natural gas that is used to produce electricity, make fertilisers, turned into CNG and piped to household kitchens for cooking, on the back of a spike in global energy prices. The price of gas produced from old regulated fields, such as the nation's largest gas field of Bassein of ONGC, will rise to a record high of $6.10 per million British thermal unit (mmBtu) from the current $2.90 per mmBtu, according to the oil ministry's Petroleum Planning and Analysis Cell (PPAC). The new price, which is likely to result in a hike in CNG and piped cooking gas rates, will be for six months beginning April 1.
French gas major Gaz de France will hedge the risk of India's first liquefied natural gas importer Petronet LNG Ltd against market uncertainties.
Royal Dutch/Shell, world's third largest oil and gas firm, on Thursday said its $600-mn Hazira liquefied natural gas import terminal in Gujarat was fully operational and the company had no plans to sell it off.\n\n
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.
In the past, the absence of commercially viable gas prices had not only discouraged high-risk new exploration activity but also hindered the development of some of the existing discoveries, such as the satellite fields in the Reliance Industries' eastern offshore KG-D6 block.
He said there will not be exclusive pipelines for India and Pakistan.
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.
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 proposal to hive off the LNG terminal at the revived Dabhol power plant in Maharashtra is likely to be scrapped, with promoters and financiers agreeing to pump in Rs 24 billion to restart construction work at the plant.
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