The recent diplomatic events involving Qatar are unlikely to have a near-term impact on the LNG volumes imported into India.
According to Reuters, BP and Reliance Industries have agreed to invest US$6 billion to boost India’s gas output from an east coast block.
Engie SA is seeking to raise as much as US$512 million selling its entire stake in India’s biggest importer of LNG.
Gujarat Gas has entered into a non-binding Memorandum of Understanding (MoU) with Petronet LNG Limited.
Shares of Gujarat Gas Ltd. increased by as much as 1.3% after brokerage house Citi initiated coverage on the stock with a ‘Buy’ rating.
According to Reuters, the Indian Transport Minister has said that the country is aiming to reduce its oil products imports to zero, in favour of alternative fuels.