LATEST NEWS:
Feature

Shtokman volumes underpin Gazprom MOUs with India

3 June — The Shtokman gas field in the Barents Sea is the main resource base underpinning a series of three preliminary agreements between Gazprom and Indian groups GAIL, Gujarat State Petroleum Company (GSPC) and Petronet LNG signed on Thursday, sources tell Interfax.

Each non-binding memorandum of understanding (MOU), the first step towards a more concrete sale and purchase agreement, allows for Gazprom to supply up to 2.5 mtpa (3.33 bcm) of LNG into India for a maximum of 25 years. Final agreements could be announced within the next two to six months depending on how negotiations progress. While still under discussion, the contracts will include take-or-pay clauses and are for delivery to all India’s LNG terminals.

read more features ...
News

Reliance shares fall after AGM

3 June — Shares in Reliance Industries fell today as investors were disappointed with comments made by chairman, Mukesh Ambani, at the company’s 37th annual general meeting (AGM) of shareholders in Mumbai. Reliance’s share price on the Mumbai stock exchange…

Asia, Latin America head up global LNG demand growth – BoA Merrill Lynch

1 June — Worldwide LNG imports in March increased by 12% compared with the same month the previous year, with the strongest growth coming from Asia and Latin America, US bank BoA Merrill Lynch said in a report on Wednesday…

ONGC reports drop in Q4 earnings

31 May — India’s Oil & Natural Gas Corp. (ONGC) reported a 26% drop in fourth quarter net profits to 27.9 billion rupees ($619 million), as it failed to take full advantage of higher oil and gas prices due to…

Pakistan power projects connect to grid

31 May — Two new power stations have been connected to the grid in Pakistan, the 177 megawatt (MW) Fauji Dharki gas-fired plant and the 214 MW Hubco Narowal oil-fired plant, local newspaper The Daily Times reported today.

Both…

Indian consortium bids for 15% stake in Yamal LNG

30 May — A consortium of Indian companies, ONGC Videsh, GAIL and Petronet LNG, is preparing a non-binding, indicative bid for a 15% stake in Yamal LNG, the Hindustan Times reported on Thursday. The consortium is prepared to invest 155…

India petroleum ministry to supply gas to “core” industry users

27 May — India’s government has decided to supply natural gas at regulated rates to a selection of priority consumers to allow Reliance Industries the choice to decide pricing levels. The decision will increase government revenue from the Krishna-Godavari (KG)…