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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Dennis Roth7/22/2013 1:26:08 PM
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RIL to invest $5.1 bn in US shale gas biz
Near-doubling of investment over 3 years; company expects close to 10% contribution to consolidated earnings by FY 15
business-standard.com

Reliance Industries Ltd ( RIL) will invest $5.1 billion (Rs 30,290 crore) in the next three years in its US shale gas business, taking the total investment in the business to $10.8 billion.

The Mukesh Ambani-promoted conglomerate acquired shale gas assets in the US in 2010 for $3.45 billion and has invested $5.7 billion in shale gas joint ventures till the June 2013 quarter..

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GAIL seeks renegotiation of Gorgon LNG deal
By PTI Jul 21 2013 , New Delhi
mydigitalfc.com

State-owned gas utility GAIL India has sought renegotiation of India's most expensive LNG import deal as it feels gas from Australia's Gorgon project will find few takers.

Petronet LNG Ltd, a private firm whose chairman is Oil Secretary, had in August 2009 signed a 20-year deal to buy 1.44 million tonnes per annum of liquefied natural gas (LNG) at a price equivalent to 14.5 per cent of ruling oil rates.

This translates into $ 14.5 per million British thermal unit price at $ 100 per barrel oil price. After adding shipping cost, 5 per cent import duty and the cost of converting liquid gas back into its gaseous state, the Australian gas will cost close to $ 18 at Kochi port.

"GAIL feels there is a case for renegotiating the deal. It is for Petronet to consider," Oil Secretary Vivek Rae said...
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