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2015-06-01 18:50:00

INDIA BUY US LNG

INDIA BUY US LNG

State-owned Indian Oil Corp (IOC) on Friday said it has signed an interim agreement to buy 0.7 million tonnes (MT) per year of LNG from US on a long-term contract beginning 2018.

"To secure LNG supplies, IOC has forayed into independent LNG purchase," Indian Oil chairman B Ashok told reporters here.

It last year, bought 1.2 million tonnes a year of liquefied natural gas (LNG) for 20 years with Pacific North West LNG project of Canada. Delivery is expected to commence by 2020.

Now, IOC has signed an agreement with Mitsubishi Corp of Japan for 0.7 million tonnes a year of LNG for 20 years from Cameron LNG project in USA, he said adding the delivery is expected to start from the first quarter of 2018.

IOC director (business development) D Sen said an interim sale purchase agreement has been signed with Mitsubishi Corp which now has to be converted into a firm gas sales and purchase agreement (GSPA). 

oilandgaseurasia.com

Tags: INDIA, US, GAS, LNG, OIL,

Chronicle:

INDIA BUY US LNG
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

INDIA BUY US LNG
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

INDIA BUY US LNG
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

INDIA BUY US LNG
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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