Qatar crisis not to affect LNG exports to India, China
The Dollar Business Bureau With the recent crisis in Qatar of boycotting Doha by four Arab nations, liquefied natural gas (LNG) exports from the country to the Asian countries including India, China, Japan and South Korea, have not to be impacted, said a Qatari official. “Exports of liquefied natural gas (LNG) to India, Japan, China and South Korea have not been affected by the boycott of Qatar by four Arab states, said Qatar’s Energy Minister Mohammed al-Sada on Monday. The Minister said that the exports from Qatar to the four Asian nations make up for around three-fourth of the country's overall exports. Qatar’s exports to the Bahrain, Saudi Arabia and the United Arab Emirates account for only 8%, al-Sada said in a statement. “Qatar remains committed to all its agreements with its partners and is determined to ...
Modi asks Indian energy powerhouses to become MNCs
The Dollar Business Bureau Prime Minister Narendra Modi on Monday exhorted Indian energy companies to expand their operations overseas, as he outlined his vision of creating energy corridors in the Middle-Eastern, Central Asian and South Asian regions. “I hope that our oil and gas sector companies will take the opportunity to tie up with their foreign counterparts to explore for more equity oil… Indian energy companies must become multinational and work towards India-Middle East, India-Central Asia, and India-South Asia energy corridors,” he said. Underlining that a stable and reasonably-priced energy is key to any country’s economic transformation, Modi said Indian energy majors need to increase their oil and gas production, while simultaneously focusing on forging partnership with energy companies in the region. ...
Russia offers Indian firms a stake in Yamal LNG
The Dollar Business Bureau Russia has made an offer to Indian oil firms for a stake in Phase II of Yamal LNG, the largest proposed liquefied natural gas project in the Arctic. The stake offer was made when Dharmendra Pradhan, Minister of State for Petroleum and Natural Gas of India, visited Russian city St. Petersburg last month, according to sources. Petronet LNG Ltd, India's leading importer of natural gas, is examining the offer and other state-owned companies such as Indian Oil Corporation Ltd (IOC) may join in afterwards, sources said. In 2013, Novatek OJSC, Russia's biggest independent producer of natural gas, had offered a stake of 9 percent in the $27 billion Phase I of Yamal LNG to a consortium of IOC, ONGC Videsh Ltd (OVL) ...
Indias gas importers benefiting from easing prices
The Dollar Business Bureau Gas importers from India are benefiting from the easing of Liquefied Natural Gas (LNG) prices with expectations of good profits in the next few months, states a report by Nomura Holdings, a Japanese financial holding company. India’s largest government-owned natural gas processing company Gas Authority of India Limited (GAIL) is all set to have a strong comeback after the weakest performance in the last year, Nomura said in its international market research report. According to it, GAIL is benefiting from lower LNG price in the local market as well as the imports. The strengthening of the petrochemical product price is also benefiting this natural gas transportation company. It has benefited from 60% dip in the new LNG contract prices ...
India plans to reduce LNG imports from Qatar
The Dollar Business Bureau Pitching for reduced dependence on energy imports, the Prime Minister of India, Narendra Modi on Friday said, ‘India should cut down the oil imports by 10% by 2020’. In line with the above statement, India is likely to cut down the contracted volumes of gas from a Qatar-based company RasGas Company Limited, by about 10%. Under the first Sales and Purchase Agreement (SPA) that was signed between India and Qatar in 1999, both the sides had agreed on reducing contracted volumes on acceptable terms. The reduction in import of gas is in view of the gas pricing in spot market which, has lowered by almost $6/BTU as compared to the pricing that is being followed ...
