About Me-email is... grant.go@aol.com

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garden bay, west coast, Canada
persistent digging,never say never

Monday, January 4, 2016

Longterm LNG Contracts Are Being Inked For $6 Dollars per MMBTU`s(Breaking)


Well well well....India`s largest LNG importer is inking LNG buying deals for $6 dollars..What was the price Petronas needs to make a return on investment on their (proposed) Prince Rupert terminal...I do believe the number is $12 dollars ..


Here`s the smoking gun, the horse`s mouth

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India’s largest LNG importer, Petronet said it has come to an agreement with RasGas of Qatar to revise the 7.5 mtpa LNG import deal terms significantly cutting the price. 

Under the initial deal signed in 1999, Petronet agreed to pay about US$13 per million British thermal units, while the revised price is reduced to around US$6 to US$7, according to India’s minister for petroleum and natural gas, Dharmendra Pradhan.
The two companies said in a joint statement last week that the revised price will be linked to the oil index that closely reflects the prevailing oil prices.
Additionally, Petronet has avoided paying the US$1.5 billion penalty for taking less LNG than it contracted for 2015, but under the new agreement, it will have to take and pay for all of the volumes it has not taken in 2015 during the remaining term of the 25-year SPA.
Petronet also agreed to buy additional 1 mtpa of LNG from RasGas for further sale to Indian Oil, Bharat Petroleum, GAIL and Gujarat State Petroleum, with the delivery starting in 2016.


http://www.lngworldnews.com/petronet-rasgas-agree-new-lng-price-penalty-waived/


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"Additionally, Petronet has avoided paying the US$1.5 billion penalty for taking less LNG than it contracted for 2015, but under the new agreement, it will have to take and pay for all of the volumes it has not taken in 2015 during the remaining term of the 25-year SPA.


Petronet also agreed to buy additional 1 mtpa of LNG from RasGas for further sale to Indian Oil, Bharat Petroleum, GAIL and Gujarat State Petroleum, with the delivery starting in 2016."


http://www.lngworldnews.com/petronet-rasgas-agree-new-lng-price-penalty-waived/




Indian Oil Corp...Hmmmm...That is one of Petronass PNW lng equity partners...And that is PER ANNUM....Starting in 2016..Gee whiz, its 2016 is it not?...Looks like Indian Oil Corp has secured supply....




I doubt any of British Columbia`s Legislative/political hacks will report this..

Eh Michael Smyth,..Whadda ya think Keith Baldrey...How about you Tommy Fletcher...

Realmedia voices and reporting only happens online in British Columbia..

The Straight Goods

Cheers Eyes Wide Open

4 comments:

Bill said...

Thanks Grant for doing the job the 'paid media' should be doing. All no surprise to any truly paying attention.

Probably we will get some embedded reporting on this by the three amigos once cleared by their benefactors... in two to four years from now. Till then they will just keep the LNG Dream Scheme spinning.

All the best.

mark said...

About the only thing Christy Clark is qualified to do,would be handing out the daily rag at the skytrain.Everyone of those rags is not even fit for the bottom of a bird cage.I wonder how many rendez-vous's she had with our former serial adulterer premier to be catapulted to power.She sure had not done anything before that to merit being appointed a minister.I think her X was involved in the political assassination of Glen Clark.I lived in Quebec when the RCMP were blowing up mail boxes and burning barns.

Grant G said...

Thanks Bill...CBC has a LNG story, and it`s what I call "thin gruel" ...More bad news for BC LNG..


http://www.cbc.ca/news/canada/british-columbia/lng-jobs-2016-1.3389022


Thanks Mark..ya, a school dropout as premier..Christy cluck cluck Clark

Cheers

John's aghast said...

Looks as if Chrispy will have to sweeten the pot in order to stay in the game. Let's see, free gas, free power...What else can she give away?