Hazira Terminal Grows 22% in Q1 of 2019-20
Essar Bulk Terminal Ltd (EBTL), that operates the 50 million tonne per annum (MTPA) bulk terminal in Hazira, Gujarat, India said a 22 per cent growth in its third-party business during the first quarter ended 30 June 2019, on a year- on-year basis.The Company achieved an overall cargo throughput of 7 MT (million tonnes) in Q1 FY2019-20, of which 1.1 MT was third-party cargo. The share of third-party cargo in overall cargo volumes also rose to 15.7%.According to the port operator, there is a significant upswing in the region’s economic activity and the Hazira terminal is well placed to capitalize on the opportunity. The focus on operational…
LNG Rebounds as Asian Buyers Replenish Inventory
Interest for prompt spot cargoes still keen; demand could roll over to April. Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold weather in North Asia forced buyers to enter the spot market to replenish inventory. Spot prices for March <LSG-AS> delivery in Asia climbed 40 cents to $10.60 per million British thermal units (mmBtu) this week, according to several LNG traders in Asia. Cargoes for delivery in the first half of March are trading between $10.70 and $11 per mmBtu while cargoes for the second half of the month are trading at just above $10 a barrel, they said. Angola LNG sold a cargo for February at close to $11 per mmBtu to a Chinese company, traders said. The company has offered a March cargo as well.
Essar Ports Hazira Allows Third-party Cargo
Essar Bulk Terminal Limited, Hazira, a subsidiary of Essar Ports Limited, which is a part of Essar, has received an approval from Gujarat Maritime Board (GMB) to handle 15 million tonnes of merchant cargo over three years. Based on this approval, the Hazira Terminal, in keeping with its design and capabilities, will be able to handle a range of cargo for merchant customers, including dry bulk, liquid bulk, containers and so on. The approval was granted under GMB’s captive port policy where jetties built on captive licenses can handle third-party cargo up to a maximum of 50 percent of the total cargo handled. This approval stands to benefit the local industry who will now have access to a modern port facility.
Shell Plans Second LNG Terminal in India
The Hague-based global energy giant Royal Dutch Shell is planning to establish a floating liquefied natural gas (LNG) facility on the east coast of India at Kakinada in Andhra Pradesh. Shell already has a 5 million tonne LNG terminal at Hazira in Gujarat set up nearly a decade back. The Hazira Terminal includes a LNG storage and re-gasification terminal within a fully functional port. The Andhra Pradesh government has recently decided to induct global oil major Shell with a 26 percent equity in the proposed special purpose vehicle (SPV) for setting up a floating, storage and re-gasification unit (FSRU) for liquefied natural gas at Kakinada.
ONGC Looks to Buy Out Shell Hazira
Oil and Natural Gas Corporation (ONGC) will soon make an offer for a complete buyout of the Hazira LNG terminal of Royal Dutchhell, according to a Business Standard report. Unlike Hindustan Petroleum Corporation , which is interested in picking up 26 percent equity in Shell Hazira, ONGC is mulling a total buyout of the LNG import and regasification terminal. Shell Hazira is finding it difficult to market LNG in India at the prevailing global prices. Its sole customer, Gujarat State Petronet Corporation, lifts LNG when there is demand from the customers in the state. In the absence of long-term supply agreements with Indian consumers, Shell Hazira picks up floating cargoes of LNG and brings the same to the Hazira terminal for sale at prevailing global LNG prices.
