IndiaCatalog.com
India News
Search Web Directory
News Home
BPCL to bring 1 MTPA natural gas from Mozambique to India
Posted on 12th February 2019
MUMBAI: State-run Bharat Petroleum Corporation Ltd (BPCL) will bring to India the much-awaited natural gas from its Rovuma basin in Mozambique in the next five years, said officials aware of the development.

BPCL will bring in 1 million metric tonnes per annum (mmtpa) of gas from the Rovuma field where its upstream arm, Bharat Petro Resources Ltd (BPRL) holds 10% stake.

"BPCL will sign a sales and purchase agreement with Mozambique LNG1 Company to bring the gas to India. BPRL holds 10% stake in Mozambique LNG1 company which was formed to market the gas," said a company official aware of the development. Mozambique LNG1 Company is owned by the Mozambique Offshore Area 1 partners.

The Offshore Area 1 is operated by Anadarko Mozambique Area with a 26.5% stake. Other partners include National Oil Company Empresa Nacional de Hidrocarbonetos (15%), Mitsui E&P Mozambique Area 1 (20%), ONGC Videsh (16%), Bharat PetroResources (10%), PTTEP Mozambique Area 1 (8.5%), and Oil India (4%).

A final investment decision or FID for the block in Mozambique is expected to be ready by this April, said the chairman of Mozambique’s national oil company ENH on the sidelines of Petrotech. He said that the project would be financed in a debt-to-equity ratio of 60:40 but this ratio could evolve as the partners progress on the project.

An FID for the block allows the partners to unlock value in one of the world’s biggest gas discoveries, estimated at 75 trillion cubic feet. To put it in perspective, this would be more than the combined resources of all the gas fields in India.

“One of the Indian companies has already signed a share and purchase agreement for the gas. The first molecules will come to India by 2024," ENH chairman Omar Mitha said adding that the location of Mozambique is strategic for Indian imports of natural gas and it does not have the geopolitical challenges of the Middle East.

The Anadarko-operated Mozambique LNG project will be Mozambique’s first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 MTPA. The LNG trains will initially require around $18-20 billion, of which $14 billion will be raised in loans.

"BPCL has aggressive plans to expand in the natural gas segment. So they will use the Mozambique gas and may market it too," the first official quoted above added.

In 2017-18, BPCL formed a wholly owned gas subsidiary Bharat Gas Resources Ltd with a view to focus on natural gas as a separate business.

BPCL may also revive its plan to build a 1-to-3 mmtpa imported liquefied natural gas (LNG) terminal to cater to the rising domestic demand for the clean fuel. This could be expandable to 5 mmtpa later.

Given the government’s focus on increasing the share of gas in India’s overall energy mix and the development of infrastructure in terms of LNG terminals and pipeline connectivity, the demand for LNG is positive over the medium to long term, encouraging companies including BPCL, Indian Oil Corp. and Hindustan Petroleum Corp. Ltd to expand their natural gas businesses. All three are promoting city gas distribution, setting up LNG terminals and marketing natural gas.

Besides, a Supreme Court ban on polluting fuels for industrial use has also fuelled LNG demand. During April-October 2018, natural gas consumption rose 17.1%. During the same period, LNG imports increased 12.7% due to higher demand and lower domestic production.

Related Companies: Bharat Petroleum   

Other Latest News
Not 1 or 2, all 22 rifles fail to fire during gun salute to former Bihar CM Jagannath Mishra
Posted on 22nd August 2019
While former Bihar chief minister Jagannath Mishra mortal remains were being cremated with full state honour, 22 rifles carried by police personnel failed to fire a single shot on Wednesday.

Mishra's cremation took place at his ancestral village in Supaul district and it was attended by state Chief Minister Nitish Kumar, Deputy Chief Minister Sushil Kumar Modi, state Health Minister Mangal Pandey, among others.


Kia Motors makes India debut, launches Seltos SUV starting of Rs 9.69 lakh
Posted on 22nd August 2019
Korean auto major Kia Motors on Thursday made its debut in India with the launch of an SUV, Seltos, at an introductory price of Rs 9.69 lakh.

Seltos, a mid-sized SUV, is manufactured at the carmaker's Ananthpur plant in Andhra Pradesh. The model comes in both petrol and diesel variants.


Something grave happening in J&K that the government is trying to hide: Ghulam Nabi Azad
Posted on 22nd August 2019
Nine opposition parties on Thursday participated in a protest organised by the Dravida Munnetra Kazhagam, demanding the immediate release of political leaders detained in Kashmir.

“We must recognise that this is no democracy. If we fail to understand this, then we are living in a fool’s paradise,” former Chief Minister of J&K and Leader of Opposition in the Rajya Sabha Ghulam Nabi Azad said.


Govt using CBI, ED as 'revenge-seeking' units: Cong on Chidambaram's arrest
Posted on 22nd August 2019
The Congress on Thursday came down heavily on the BJP government over the arrest of P Chidambaram, accusing it of using the CBI and the ED as "personal revenge-seeking departments".

Senior Congress leader and former Finance Minister Chidambaram was arrested last night amid high drama by the CBI and he spent the night at a agency guest house.


Akshay Kumar 4th on Forbes highest-paid actors list, Dwayne Johnson on top
Posted on 22nd August 2019
National Award-winning actor Akshay Kumar has made it to the fourth position on the Forbes magazine's Worlds Highest-Paid Actors Of 2019 list.

According to the list on forbes.com Akshay has raked in $65 million.

Hollywood star Dwayne 'Rock' Johnson tops the Forbes list of the 10 highest-paid actors, collecting $89.4 million between June 1, 2018, and June 1, 2019.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for BPCL to bring 1 MTPA natural gas from Mozambique to India
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for BPCL to bring 1 MTPA natural gas from Mozambique to India

Most Read News

Sensex sinks over 300 points; metal, auto stocks drag

Tata Motors to take third plant closure

Fitch Ratings raises Reliance's outlook to positive

Coal India’s 54 mining projects facing delays

Kotak Mahindra Bank revises fixed deposit rates. Latest FD rates here

More India News

Photo Gallery

Airlift(10 Images)Airlift
Nela Ticket(11 Images) Nela Ticket
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement