To Fund Rs 7k-Cr Project With Rs 5,000-Cr Loan & Rs 2,000-Cr Rights Issue
PETRONET LNG, the largest importer of chilled gas (imported as liquefied natural gas in tankers), is set to diversify downstream and set up two power plants. It is also planning a right issue to part fund the projects.
Weak prices and sagging demand could see gas supply most of Britain's electricity well into winter, sidelining coal plants and cutting Britain's carbon emissions as a welcome side effect.
Gas is usually favored for round-the-clock power generation in summer when low demand for heating keeps the fuel price low, swelling gas-fired power plant profits, known as spark spreads.
NEW DELHI: Union Petroleum Secretary R. S. Pandey on Wednesday announced that the Government was planning to levy a cess on natural gas to generate funds to put in place necessary infrastructure for building a national gas highway network across the country.
KOCHI: The Gas Authority of India will sign an agreement for distribution of liquified natural gas (LNG) to Fertilisers And Chemicals Travancore (FACT) and Kayamkulam Thermal Power Corporation from the Puthuvype LNG terminal by the end of this month.
The decision regarding this was taken at a high-level meeting attended by T K A Nair, Principal Secretary to the Prime Minister.
Pakistan faces gas price issue with Turkmenistan regarding Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project as Turkmenistan has shown reluctance to export gas below $11.4 per million British thermal unit (MMBTU).
Faced with a deep energy crisis due to gas shortage that cannot be overcome overnight, the government considers importing Liquefied Natural Gas (LNG), increasing efficiency of bulk gas users to reduce demands and setting standards to promote energy efficient electrical equipment, says Dr Towfiq-e-Elahi Chowdhury, energy adviser to the prime minister.
Pakistan and Iran are said to have agreed to resolve the disputes on gas pipeline project in accordance with the United Nations Commission on International Trade Law (UNCITRAL), sources in Petroleum Ministry told Business Recorder.
