ROSNEFT: GAS RISING 55
REUTERS. Russia's Rosneft expects its gas output to reach 55 billion cubic metres (bcm) this year and rise to over 63 bcm in 2015, the company told Reuters on Tuesday.
Rosneft, the world's largest listed oil company by output, plans to build a liquefied natural gas (LNG) plant in Russia's Far East with initial capacity of 5 million tonnes a year in partnership with U.S. company ExxonMobil.
In response to questions sent by email, it said it was implementing the Far Eastern LNG project on schedule despite political tensions with the West over Russia's annexation of Crimea from Ukraine. It said the project targeted Asia- Pacific markets and was due to come on stream in 2018-2019.
Rosneft said current LNG prices in the Asia-Pacific region meant it would "successfully" carry out the project. It added that it did not expect all LNG projects announced by the United States to come on stream because of the level of U.S. domestic gas demand and competition from neighbouring Canada.
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REUTERS - India’s natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India’s population.
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