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Gold/Mining/Energy : LNG -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (40)	1/26/2004 9:42:53 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

INDONESIAN GOVT TO BUILD NEW LNG PLANT biz.yahoo.com JAKARTA - The government plans to build another liquefied natural gas [LNG] plant in Bontang, East Kalimantan, to supply gas to the country's fertilizer plants, Energy and Mineral Resource Minister Purnomo Yusgiantoro said. Bontang already has the country's largest plant producing LNG for export under long term contracts with foreign buyers. The new plant will help overcome any shortage in gas supplies in a number of urea fertilizer plants in the country. Asean Aceh Fertilizer (AAF) and Pupuk Iskandar Muda, two large urea fertilizer plants in Aceh, have suspended operations due to shortage of gas supplies from ExxonMobil.

To: Dennis Roth who wrote (40)	1/31/2004 9:34:54 AM
From: Dennis Roth	Read Replies (2) \| Respond to of 919

India gets first LNG cargo from Qatar New Delhi \|Reuters \| 31-01-2004 gulfnews.com India received its first cargo of liquefied natural gas (LNG) from Qatar yesterday, providing a new source of energy for Asia's third largest economy. "It is a historic day for India. LNG from Qatar will help India meet the shortage of natural gas," oil minister Ram Naik told Reuters. Petronet will import 2.5 million tonnes of LNG this year and five million tonnes in 2005 at its Dahej terminal on the west coast to meet the gas demand in the energy-starved country. India, the fourth Asian country to import LNG apart from Japan, Korea and Taiwan, is aggressively seeking equity oil abroad and piped gas imports from Iran, Bangladesh and Myanmar to meet the energy needs of the economy that is likely to grow more than seven per cent this year. India imports 70 per cent of its crude oil and produces only 65 million cubic metres (2.3 billion cubic feet) of natural gas a day, less than half its daily requirement. Petronet will compete with Royal Dutch/Shell which is expected to start importing LNG at its terminal in western India by the end of this year. India's domestic gas output is also likely to increase after Reliance Industries develops its off shore gas field which has an estimated 14 trillion cubic feet of gas. India also plans to import LNG from Iran after four years and plans to review the LNG contract with Qatar after five years. Government officials say India has enough demand to absorb additional domestic gas, LNG from two terminals and piped natural gas from three countries. Oil ministry officials say regassified LNG will be sold to customers for $3.80-$4.00 per million British Thermal Units (Btu). Analysts say demand for gas in India would depend on the price. "Demand in India is infinite at $2 per million BTU but negligible at $5 per million BTU," Fereidun Fesharaki, president of consultants FACTS Inc, said in a presentation at a recent conference in New Delhi. "The question is...what is the right price in between?" Eighty per cent of India's natural gas is sold to the power and fertiliser sectors, which are in a financial mess and have demanded a low price for regassified LNG. Oil ministry officials say gas is also being promoted as a cheaper and less polluting alternative to liquid hydrocarbons. Gas demand is likely to rise as more and more cities adopt compressed natural gas to power buses and taxis and industrial units replace costlier naphtha and diesel with gas. The switch to compressed natural gas in Delhi and Bombay has removed up to 30,000 barrels a day of diesel from the market and the trend is expected to continue, analysts say.