New Delhi The stagnation in domestic gas and coal production has led to a revival of interest in the liquefied natural gas (LNG) business, despite it being the most expensive fuel for power generation.

Among the growing list of energy companies looking at the LNG business are government-run Indian Oil Corporation (IOC), which plans a 5 million tonne (mt) terminal at Ennore Port by 2015, and Reliance Power, which, in a joint venture with Shell, would set up a terminal with similar capacity at Andhra Pradesh, close to the its KG-D6 gas block and gas-based Samalkot power plant.

State-owned Bharat Petroleum Corporation (BPCL) and Videocon Industries’ Mozambique block may have up to 100 trillion cubic feet (tcf) of in-place gas reserves, operator Anadarko Petroleum Corp said on Monday.

Bharat PetroResources, a wholly-owned subsidiary of BPCL, and Videocon Hydrocarbon Holdings, a wholly-owned subsidiary of Videocon Industries, hold 10 per cent stake each in the Mozambique block,

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Australia's iconic Great Barrier Reef is under imminent threat from industrial development and may be considered for listing as a world heritage site "in danger" within the next year, a U.N.

New Delhi The 12th Five-year Plan may end without any significant fresh gas-based power capacity being added in the country. The power ministry has issued a directive to all state governments and other central and state utilities asking them not to propose any new gas-based power project at least till the end of fiscal 2015.

The advisory comes as gas is in short supply domestically and the situation could worsen in coming months as production at the country’s biggest reserve, Reliance Industries’ D6 block in the Krishna-Godavari basin, is expected to fall further from already low levels.

Needed, it says, for covering its return and risks also wants govt to stick to contract on output sharing

Stuck with $4.2 a million British thermal units (mBtu) price for its natural gas till 2014, Reliance Industries Ltd (RIL) has sought from the government an import-parity price for sale of gas from its D6 field in the Krishna-Godavari basin (KG-D6). Doing so would allow KG gas to be sold at the import price for liquefied natural gas (LNG). If approved, this would mean KG gas could be sold at over three times its current price.

Major power producers in the private and public sector, including Tata Power, NTPC, Torrent Power and Mahagenco, have opposed the proposal floated by the Association of Power Producers (APP) to pool domestic gas with RLNG (regasified liquefied natural gas). They have opposed the move on the ground that this would lead to higher tariffs.

In its submission to the Central Electricity Authority (CEA) on the gas pooling issue, Tata Power said that its Trombay power station was allocated 1.5 million metric standard cubic metres per day (mmscmd) when ONGC flaring first started.

India on Wednesday signed the gas sale purchase agreement (GSPA) for the Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline, which upon completion would diversify its gas basket. With domestic gas output stagnating, the $7.6-billion Tapi gas project provides a ray of hope.

In five years, the country would have access to imported natural gas, in addition to imported liquefied natural gas and domestic sources, including coal bed methane gas.

Indian Oil Petronas Private Limited, a joint venture between Indian Oil Corporation Limited (IOCL) and Petronas Malaysia, is setting up an LPG (liquefied petroleum gas) import-export terminal at the Ennore Port. The new facility will have a tankage capacity of 30,600 tonnes and will attract an investment of around Rs 497.83 crore.

Union minister of state for petroleum and natural gas R P N Singh informed the Lok Sabha that the IOC was proposing to set up an LNG (liquefied natural gas) import terminal at Ennore Port with storage and regasification facilities of 5 million metric tonne per annum capacity at an estimated cost of Rs 4,320 crore.