Hindujas to Buy LNG from ONGC

Thursday, November 09, 2006
Oil & Natural Gas Corporation Ltd (ONGC) and Hinduja Group signed a Memoranda of Understanding to form Joint Ventures to pursue global opportunities in Liquefied Natural Gas (LNG) and linked E&P business. The collaboration will leverage the E&P expertise of ONGC and the business-relationship advantage of the Hinduja Group in the hydrocarbon-rich Middle East, with business prospectivity benefits to both entities. The Memorandum of Understanding (MoU) between the company and Ashok Leyland Project Services (ALPS) provides for sourcing of Liquefied Natural Gas (LNG) at competitive terms, to be facilitated by ALPS. Pursuant to such sourcing, ALPS will be invited to participate in joint development of LNG-based downstream projects at Mangalore SEZ - like LNG regasification, Power, Petrochemicals, as conceptualized by ONGC Group. The parties will form Joint Ventures / unincorporated Joint Ventures, whose equity structure is expected to be ONGC - 49.98%, ALPS - 48.02%, FIs/Banks - 2%, with the majority ownership remaining with ONGC. Source: Indiaonline
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Education/Training

China Strengthens Maritime Ties with Pak

The Vice Chairman of China's Central Military Commission General Fan Changlong has pledged to deepen maritime security and military technology cooperation during

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

BMT’s REMBRANDT-INLAND Simulation Tool

Brown Water Training and Collision Reconstruction Taken to a New Level When a new or expanded port is planned on an inland waterway, how do you assure the civil

LNG

GAIL Seeks 7 LNG Cargoes

GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters.

Big Spending on Liquefaction Terminals

Capital expenditure (Capex) on global liquefied natural gas (LNG) facilities is expected to total $259 billion over the forecast period 2015-2019, according to

Studies Show U.S. Offshore’s Untapped Potential

While short-term news emanating from the global energy sector was universally negative in the waning months of 2014 as the price per barrel continued to plummet below $60,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1576 sec (6 req/sec)