Ajanta Pharma retains the tag of fastest wealth creator for the third time in a row and Asian Paints is the most consistent wealth creator, said the wealth creation study
The CERAWeek India Energy Forum is underway in New Delhi; CNBC-TV18's Nithya Balakrishnan caught up with Prabhat Singh of Petronet LNG and asked him about the status of the Kochi terminal project and other developments.
Reports from Petrowatch indicate that liquefied natural gas (LNG) imports in June were at a record low. In an interview to CNBC-TV18, RK Garg, Director, Finance at Petronet LNG shared his readings and outlook on the same.
Domestic gas is cheaper than imported gas. “So good for the country and consumer, said RK Garg, Director-Finance, Petronet LNG.
In an interview with CNBC-TV18, RK Garg, Director-Finance at Petronet LNG spoke about the latest happenings in his company and shared his outlook for FY18.
Speaking on the GDF stake sale in Petronet LNG, Srinivasan said that the promoters will not buy any of it as the structure of the company is on a joint venture basis, which would deviate.
Since procurement and sales are pre-decided by long-term contracts, movements in spot LNG prices do not impact them, said RK Garg, Director of Finance, Petronet LNG.
LNG consumption, which is 40-45 million cubic meter per day, is expected to rise by 10 million cubic meter a day in current fiscal, says Prabhat Singh, MD & CEO of Petronet LNG.
Speaking to CNBC-TV18, Kapil Mehan, MD & group CEO of Zuari Agro Chemicals says that the move will improve cash flows of companies.
RK Garg of Petronet LNG says the company is trying to make up the "drop" by buying spot volume from the spot market.
Speaking about volumes, RK Garg, director-finance at Petronet LNG said Dahej and Kochi terminals need to improve its operating capacity to see uptick in volumes.
According to AK Balyan, Kerala government has taken the initiative to start the Kochi-Mangalore pipeline soon and the company is confident of significant progress by the end of this financial year.
The recently-commissioned Kochi terminal of Petronet LNG has been operating below capacity as it is yet to be connected to pipelines reaching different markets, the firm‘s CEO and MD A Balyan, told CNBC-TV18. He also said he would not be able to provide a timeline as to when the pipeline would be laid.
In an interview to CNBC-TV18, A Balyan, CEO & MD, Petronet LNG spoke about progress of work at Kochi terminal.
RK Garg, director finance, Petronet LNG says they have signed a preliminary agreement with United LNG, a US based company, with the prime objective of brining liquefied natural gas (LNG) to India.
RK Garg, director - Finance, Petronet LNG expects the tie up with Kochi terminal to be commissioned by end of May or early June.
R K Garg, director finance of Petronet, says that as far as Petronet is concerned, our Kochi terminal is likely to be fully completed by March 2013. It would be connected to the phase I pipeline which is being completed by GAIL.
In an interview to CNBC-TV18 RK Garg, director-finance at Petronet LNG believes that new rules to introduce eligibility conditions for registration of LNG is not going to have any impact on their existing terminal at Dahej, as well as on their upcoming terminal at Kochi.
Dr. A Balyan CEO & MD of Petronet LNG said the pact signed between GAIL and Spain's Gas Natural Fenosa (GNF) will ensure good capacity utilisation for their Dahej terminal.
Petronet LNG says that commissioning of its Kochi terminal is on track. In an interview to CNBC-TV18, A.K Balyan, CEO and MD of the company said that by mid 2013, the Mangalore-Bangalore section of the pipeline will be ready.
"We have always maintained that the present empowerment of the regulator does not give them the option to look into these aspects. We are happy that the things have moved ahead and the industry is welcoming the situation, "Dr A Balyan CEO & MD of Petronet LNG told CNBC-TV18.
In an interview to CNBC-TV18, A Balyan chief executive officer and managing director, Petronet LNG says, the margins should be market driven and established by market forces. He also says that prices of LNG have gone up in last six months.
High LNG prices worldwide do not reflect the demand supply mechanism, Dr A Balyan, chief executive officer and managing director, Petronet LNG said. Factors beyond the demand supply mechanism are contributing to it, he added.
A Balyan, chief executive officer and managing director, Petronet LNG doesn't expect to see a significant impact on company's margins, even if the petroleum regulator asks gas companies to share their profit with the government.
Sharing details of the company's expansion plans, A Balyan, CEO and Managing Director of Petronet LNG said the Hague expansion plan is on track, and the bidding process is likely to start around March-April.