Gas Pricing Formula News

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…

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…