Tag Archives: Petronet LNG

ONGC consortium bids for stake in Yamal LNG in Russian Arctic

A consortium led by Indian group ONGC has bid for a stake in Novatek’s liquefied natural gas project in the Russian Arctic, a Novatek spokesman told Reuters on Monday: “We received a bid from a consortium of ONGC, Petronet and GAIL for a stake in Yamal LNG,”.

Indian newspaper The Hindustan Times reported the consortium was willing to commit as much as USD 3.4 billion for a 15% stake. The French energy company Total has already acquired 20% of the project.

Energy market analysts say participation of Indian companies in the project was a positive development for Novatek, Russia’s second-largest natural gas producer and which could get access to the LNG market in India through a deal.

“India could see LNG demand rise to 50 million tonnes by 2020 (Wood Mackenzie estimates), while direct access to the market could allow for the employment of swap schemes with the traditional suppliers of LNG to Asia,” Alfa Bank said in a note. Yamal LNG was slated to start production of up to 16 million tonnes of frozen gas a year in 2015-17.

Indian Power Sector Growth Plan

To enhance power supply in cost effective ways is one of the top priorities for the country. During the quarter April-June 2009, the energy and peaking shortages in the country were 9.8% and 12.3% respectively.

The Compound Annual Growth Rate (CAGR) of power demand for the last five years has been 6.80% as against power supply CAGR of 5.88%. The CAGR of your Company’s power generation has been higher at 6.79%. Strong appetite for electricity consumption in the country translates into robust growth outlook for power players like NTPC. Continue reading Indian Power Sector Growth Plan