Out of the two million tonnes of LNG, one million tonne has been sold to Royal Dutch Shell. Tripathi refused to give details of other buyers.
The best investments can be found in industries with superior growth, both near-term cyclical growth as well as long-term secular growth, and are in industries with pricing power, Pimco's Mark Kiesel said
Energy-hungry India has asked the US to export more liquid shale gas to help bridge its yawning gap between supply and demand. Gas-surplus US at present allows exports of small amounts of natural gas.
State-run Indian Oil Corporation is in talks with BG Group, Qatar and Gazprom to secure long-term liquefied natural gas supplies for an import terminal it is building to feed its rising energy demand.
State-owned gas utility GAIL India Ltd is evaluating several proposals for equity stakes and long-term supply deals in the United States, Middle East and Southeast Asia, its chairman said on Saturday.
Petronet LNG is looking to set up a liquefied natural gas terminal on the east coast to meet demand in the central and eastern parts of the country, Oil Secretary GC Chaturvedi said on Thursday.
Last Friday's price increase will impact GAIL less, says the CMD, BC Tripathi. In an interview on CNBC-TV18, he says the subsidy burden will be reduced on oil marketing companies (OMCs) and to that extent on GAIL as well.
The race to meet Asia's rising liquefied natural gas (LNG) demand is hotting up as North American and Russian producers compete with Qatar and Australia for a share of the lucrative market.