Petroleum Ministry note on shale gas for wider ... - GAIL (India)

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Pricing makes new deals for importedgas a 'watchable game: MollyOur Bureau Hub (traded price in the US) LNG re-gasification capacityNewDelhi,Junell pricing on account of high isexpectedtobemorethansoIndia, the world's fifth price band in which oil is ho million tonne per annum bylargest importer o natural vering around. So, how new 2016-17, with- a supply of 198gas, is keenly observing the deals will take place, is fast mmscmd.changing dynamics of global turning into a watchable On macro issues, the Minispricingas stakes run high. game," he said.- - said, India needs to correctThis is even as India itself is India. already has secured and consolidate its approach. terlooking for suitable pricing '.supply deals of around 14 mil towards addressing the enermechanismforitsdomestical lion tonne per annum and gy production and consumply-producedgas. deals for around 20 million tion issues in right earnest.Thenewdealstoimportgas toane per annum are in theOn India's explorationNI. veerpa Molly, Unionpo-.will be a "watchable" game, pipeline, Moily said.tential for hydrocarbons, he<strong>Petroleum</strong> and Natural Gassaid <strong>Petroleum</strong> and Natural But, the challenge is that Minister said Indiahas a large resourceGas Minister M. Veerappa the landed cost of gas is ex ' base but a huge volume ofMoily atthe third Internation pected to be $10-$12/ and Spain, and accounts for these reserves has not beenal Energy Forum (lEF) NOC and not in the range of$445/ 5.5 per cent of the total trade. exploited yet.lOC (National Oil Companies mmbtu, which customers are With LNG demand expected "We still have 12 per centIndependent Oil Companies) used to, he said. Though.this togrowats-opercentannual unexplored and 22 per centForum conference on 'Chal high price ($10-$12/ ly till 2020 and at 2-3 per cent poorly-explored areas. Evenlenges, Investment & Cooper is in the lower range, the Mm thereafter, India, along with after nine rounds of NELP,ãtion' on Tuesday. ister said that making this their other Asian counter about 80 per cent area is yet to"Liquefied Natural Gas LNG a cheaper comparable parts, is driving this growth. be explored extensively. In(LNG) pricing is fast turning fuel option is a great task. A lot of capacities are being termsof drillingintensity, too,into an issue. Importers how India has now become the created in India and huge India has a very low figure,"desire to move away from oil fifth-largest importer ofLNG, numbers of supply deals have he said.linked gas prices to Henry after Japan, South Korea, UK, been there, the Minister said. richa.mishra@thehindu.co.in
India in TalkstoImport 2OmtLNGa Year: MoilyPRESS TRUST OF INDIANEW DELHIEnergy-hungry India is in tallcstobuy as much as2o milhiontonnes a yearof liquefiednatural gas orLNG but price of over$10 remains a challenge,.11demand rIexpectedto 'agrow—WIthLNCat 5-6%peryeartill2020 and2-3%thereafter,India alongwlthotherAslancounterpartsIsdrlvingthlsgrowthOil Minister M Veerappa Mollysaid today."India has nowbecome fifthlargest importer ofLNG aiter Japan, South Korea, UK and Spaihand accrnmts for5.5% of the total trade," he said addressing third lEFNOC-lOCForum.With LNG demand expected to growat 5-6% per year fill-2020 and 2-3% thereafter, india alongwith other Asiancounterparts is driving this growth, he said."A lot of capacities are being created in India and hugenumbers of supply deals have been there. LNG re-gasificationcapacityepectedtobemorethansOmiuiontollpeSper annum by 2016-17 with a supply of 198 million stan1dardcjibicmetersperday,"he said.-The nation currently has three operational LNG importfacilities 10 million tonne terminal at Dahej and 3.6 milliontonneplant at Hazira in Gujarat and 5 million tonneterminal at Dabhol inMaharashtra. AS million tonne capacityterminal is to be commissioned In Kochi in Kerala this year. LNGterminalsare being planned on the east coast as well.India already has secured supply deal of around 14million tonnes perannum (of LNG) and around 20 million toniiesdeals are in the pipeline. But challenge before usis that landed cost is expected to remain high inthelowerrangeof $10-l2permfflionBritishthermal unit, not in the range of $4-5 which custom:ersareusedto,"hesaid."Making this LNG a cheaper comparable feio'ptionisagreattask."hadded.Moily said pricing of LNG (ña'furatgas supercooledto turn it into liquid for ease of transprtationin ships) is fastturningan issue."Importers now desire to move away from 611linked gas prices to henry hub gas pricing oncount of high price band in which oil is hoveringaround," he said.Stating that the country depends on imports tomeet 73% of its oil needs, the Minister said he26iná ekrentually achieve self-sufficiency andenergy independence by 2030. Part of this wifibedone byfindingmore oil and gas.
Page 7: Vopak considering LNG storage In As
Page 18 and 19: HPL intrinsic value luring oil majo
Page 20 and 21: Sd Yet to TurnPSU Pacts intoJVSto A
Page 24 and 25: India in Talks to Buy 2OMT LNG: Mol
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Page 28 and 29: India in talks to buy 20 MT ofLNG:
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Petroleum Ministry note on shale gas for wider ... - GAIL (India)

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