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Daily Asia Power Energy, Septyember 5, 2008 - India's gas to Warring Period


"India's gas to Warring Period"

Recently, for Indonesian Tangghu LNG base, LNG prices are to 20 dollars per million Btu (mmBtu), which is, I commented, corresponding to power rate of 17 cents. It may be a non-profitable for power sectors in Asia except Japan, I wrote. In response, I got a mail from a friend. He was speaking following.

"LNG price is, being different from crude oil trade in the market, not same among producing countries and receiving countries, and can be determined by the relative contract. For Natural gas to the U.S. market, even they have the Henry Hub in the U.S. alone, generally ,there is no market like as WTI trading in crude oil. For example, Qatari LNG is not the same for India and Pakistan, Japan, Korea and so on. The prices are totally different. (Omitted) It is told that Japan's current LNG has a general formula, 0.15 * JCC (Japan Crude Cocktail Price) +1.0 RAM; because, JCC is currently US $ 110 and that the US $ 17.5/mmBtu. " (Adachi's tentative translation)

Also on the Internet, Information Mizuho Research Institute, environmental resources and energy sector, Mr. Tetsuya Tomita, a senior consultant said as in the following description. "At this time, as imports of equipment and inadequate storage facilities, gas prices are rising very easily, and in November last year, the spot trading price of 20 dollars, which is corresponding to oil prices of 100 dollars per barrel. The situation also occurs in excess of the price, and it is required to have stability of infrastructure. " (Adachi's tentative translation)

These information is useful instructions for reading the posts of today's India and descriptive. In India, Indian State Oil and Gas Corporation, ONGC, and private sectors led by Reliance Industries (RIL) are in the fierce competition at low-lying areas in eastern India, KG basin. The government has a standard price of 4.32 dollars per mmBtu for natural gas, which is calculated from 60 dollars per barrel of crude oil, but the reality of crude oil is now 110 dollars.

Reliance Industries (RIL) and private enterprises have been respecting the governmental standard and followed the price of about five to six dollars, and supplying natural gas to the fertilizer and power plants. ONGC is there, in one swoop through the price 16 dollars, and Maharashtra state government negotiated with ONGC mobilizing chief minister Vilasrao Deshmukh himself. In the end, 11 dollars is agreed by both parties and ONGC is to provide gas to the Uran-fired power plant, which is located at the opposite bank of the Mumbai.

This ONGC price gives a big impulse to the gas sector in India, and Reliance Industries (RIL) and other private companies are eyeing to negotiate the gas price with their clients. It may not be too much words that the India gas is entering into the Warring period. The ONGC price of 11 dollars is corresponding to the power price of 9 cents per KWh.

Reference

September 5, 2008

Vietnam

œ080905A Vietnam, vietnamnews
MRC extends co-operation with China
http://vietnamnews.vnagency.com.vn/showarticle.php?num=03POL040908

Philippines

œ080905B Philippines, Manila Bulletin
ERC directs Meralco to open books to COA
http://www.mb.com.ph/BSNS20080905134316.html

India

œ080905C India, Economic Times
Power woes make state pay through nose for ONGC gas
http://economictimes.indiatimes.com/News/News_By_Industry/Energy/Power_woes_make_state_pay_through_nose_for_ONGC_gas/articleshow/3446205.cms


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