Trinidad Signs Pact with BP, Shell
The government of Trinidad and Tobago (T&T) has entered into an agreement with energy giantsShell and BP over gas pricing and LNG activities.According to local media reports, the agreement involves new pricing arrangements, the extension of the Atlantic LNG Train 1 by a further five years, and the ability of the National Gas Company (NGC) to export liquified natural gas (LNG) on behalf of T&T.The government sources quoted minister in the Office of the Prime Minister Stuart Young said the agreement will lead to “significant” financial benefits to the twin island republic.The gas pricing formula agreed to by Shell…
Bangladesh Government Pushes for Gas Exploration in Bay
As part of a measure to resolve future gas crisis, the government of Bangladesh in October may announce the third round of block bidding for oil and gas exploration in the offshore and deep-sea areas of the Bay of Bengal. However, the government is reportedly also ready to open a number of on-shore blocks, especially in the western region of the country, in the same bidding. There is a court injunction on bidding of the on-shore blocks. The bidding will offer attractive gas price prospects, but it also withdraws zero corporate tax facilities for oil companies--a benefit that was offered in the previous bidding of blocks. The biggest…