Search Result for : Lng

The Dollar Business Bureau  An undersea gas pipeline of around 1,300 km from Iran, circumventing Pakistani territory, can bring natural gas to India from the Persian Gulf at prices below the rates of available LNG (liquefied natural gas) in spot market, a former oil secretary said on Tuesday. The natural gas to be imported through the pipeline estimated at over $4 billion would cost $5-5.50 per million British thermal unit (mmBtu) to reach Indian coast, less than than the prices at which some of the local fields supply natural gas, said TNR Rao, former oil secretary, while releasing a study on Iran-India gas pipeline. LNG imported into India via ships costs around $7.50 per mmBtu. “The pipeline can first travel to Oman, and then ...

The Dollar Business Bureau  Japan's exports increased at a fast pace in July, indicating a revival in demand from China, the US and Southeast Asia, though the prices rose faster compared to the volumes for several products.  Exports rose over 13% in July to 6.5 trillion yen ($59 billion) compared to a year earlier, according to a data released on Thursday.  On the other hand, the imports into the country rose 16% to 6.1 trillion yen ($55 billion), supported by an increase in the shipments of oil and coal, the data said.  This resulted in declining of trade surplus by 17% to 419 billion yen ($3.8 billion) compared to a year earlier.  “Trade actually dragged on growth in the world's third-largest economy in the April-June ...

The Dollar Business Bureau Despite India’s offer to spend around $11 billion (about Rs.70,000 crore) for the development of Farzad B gas field in Iran and building the infrastructure for exporting the gas, Tehran had stated that it is under ‘no obligation’ for awarding the contract for the gas field to India, according to media reports.  New Delhi is willing to invest as long as Iran assures a “reasonable return” on the gas project. India’s state-run oil company ONGC Videsh Ltd has given the offer for investing around $6 billion in the Farzad-B gas field project and the remaining amount to spend in building a facility for liquefied natural gas (LNG) exports.  On the contrary, Iran has signed an agreement with Russian gas ...

The Dollar Business Bureau  Qatar’s exports grew 18.4% to QR20.2 billion (about $5.49 billion) in May, on account of higher shipments of petroleum gases and other gaseous hydrocarbons such as LNG, propane, butane, etc.  “The overall value of exports of goods that include shipments of domestic origin as well as re-exporting of goods in May 2017, reached at around QR20.2 billion, witnessing a sharp increase of 18.4% (year-on-year) as compared to May last year, according to the latest data by the Qatar’s Ministry of Development Planning and Statistics.  On monthly basis, the country’s exports grew by 7.6% last month as compared to April, the data showed.  The increase in overall exports from Qatar was mainly backed by higher shipments of petroleum gases and other ...

The Dollar Business Bureau A Joint review meeting on revival plans for closed fertilizer projects was held today, to realise PM Narendra Modi's vision of ‘Fertilizer Security for Food Security'.  The two-pronged strategy includes existing fertilizer capacity augmentation by increasing the efficiency of the plants and revival of closed fertilizer projects. "With the revival of the fertilizer projects, Gorakhpur, Barauni, Sindri and Talcher, an additional annual production capacity of 75 LMT would be created making India self-reliant in meeting the annual domestic demand of around 320 LMT, from being a net importer currently," Ananthkumar, Union Minister for Chemicals & Fertilizers and Parliamentary Affairs said, after the meeting. "Financial allocations and the ground level work would start in 2017 and the five plants would become fully functional by 2020-21," he added. Through optimum utilisation of existing capacity, India ...

The  Dollar Business Bureau As part of the Framework of Understanding (FoU) on Cooperation in the Hydrocarbon Sector with Bangladesh, India is going to build two pipelines for diesel and natural gas between the two countries. The FoU was approved by the Cabinet soon after the recent visit of Bangladeshi Prime Minister Sheikh Hasina. The said FoU is non-binding in nature and expires after five years. With an objective of strengthening energy ties with its neighbours to enhance regional energy security, India will build a 131 km pipeline for diesel transportation from Siliguri in West Bengal to Parbatipur in Bangladesh. Another pipeline for natural gas will be laid from Dattapulia in West Bengal to Khulna in Bangladesh. The 'Friendship pipeline' which will offer a logistical alternative to rail transportation of diesel, will be entirely financed by India. The ...

Sairaj Iyer  Two important economies of South-East Asia - Bangladesh and India’s growth in the past decade provide ample evidence that they are the face of development in a dull-trade-market mired with terrorism, negative growth, and political & economic uncertainty. “With political and economic uncertainties (in the world) India and Bangladesh are the best options,” Md. Shahriar Alam, State Minister- Foreign Affairs, Government of Bangladesh said at the inaugural dialogue of the Second Gateway of India Geoeconomic Dialogue in Mumbai. The minister’s tete-a-tete, with MJ Akbar, Minister of State for External Affairs, Government of India, showed the bonhomie the two countries shared by benefitting mutually from their partnership and free trade. Despite uncertainties, the South East Asian markets are maintaining a steady growth. ...

The Dollar Business Bureau Putting to rest fears that the protectionist policies of the Trump government could have an impact on global oil and gas markets, the head of one of the largest exporters of liquid natural gas company, Qatar Petroleum, Saad Al Kaabi said, he expected the US policies to remain similar to what the earlier Presidents of the US government had followed. Saad al Kaabi who owns Qatar Petroleum is confident that Trump would honour the projects that were signed by his predecessors as typically these projects have a cycle of 25-30 years and survive the term of 7-8 Presidents. Reposing faith in the business acumen of Trump, Kaabi said, “The President is a businessman and bringing in foreign investment ...