INDIA wants Iran to lower the price of natural gas to $ 1.5 per million British thermal units
for the urea plant that its plans to set up at Chabahar port in the Middle East country while Tehran has offered a price of $ 2.95.
Traders said Japanese utility Tohoku Electric in January purchased an LNG cargo for delivery in the third week of March at a price in the low $7 per million British thermal unit
Similarly, there was $1.34 per mmbtu (Million British Thermal Unit
) reduction in sale price of imported RLNG on the system of Sui Southern Gas Pipelines Company (SSGC) for the current month as compared to the corresponding month.
The government on Tuesday announced revision in prices of domestically- produced natural gas from existing $ 5.05 ( ` 314.71) per million British thermal unit
to $ 4.66 ( ` 290.41) per million British thermal unit
based on gross calorific value ( GCV) basis, which would also result in reduction in the retail price of CNG and domestic piped natural gas ( PNG), the IGL said in a statement.
The Egyptian Natural Gas Holding Company (EGAS) has implemented a new price formula for natural gas for Egyptian Fertilisers and Arab Palestinian Investment Company (APIC), setting a minimum of $2 per 1m British Thermal Unit
(BTU) starting January, up from its previous $1.25 rate.
Sources said that ECC is likely to approve the ministry of petroleum summary regarding British Thermal Unit
(BTU) policy 2011 under which likely to allow ten-year tax-exemption to low British Thermal Unit
so that supply for power generation can be increased.
The coal boiler project to cost around US$110 million is designed to produce coal steam around 27 million British thermal unit
(BTU) to be prepared for possible shortage in natural gas supply in the coming years.
At the time of the shutdown, natural gas was selling at $10 per million British thermal unit
. The price has since dropped to $2, he said.
The company imported LNG at about $ 12-$ 13 per million British thermal unit
( mmBtu) while spot LNG rates in international markets fell to $ 10.5 per mmBtu in May- June.
The boiler will convert coal steam into gas totaling 27 million Btu (British thermal unit
"While nitrogen fertilizer and methanol prices have increased significantly, we cannot generate positive cash flow from most of our North American plants at current natural gas prices of nearly $10 per million British thermal unit
," Michael L.
The Oil and Gas Regulatory Authority (OGRA) Friday reduced gas prices from Rs 600 per Million British Thermal Unit
(MMBTU) to Rs 400 per MMBTU for power houses in a bid to supply cheap electricity to industrial units aimed at minimising the cost of production, source said to Research Analyst-PAGE.
IN ITS continuous attempt to get a market- driven price for natural gas, Mukesh Ambani- led Reliance Industries Ltd ( RIL) has informed the government of its newfound large gas reserves but would explore, produce and develop it only if allowed to sell for, at least, $ 10 per million British thermal unit
( mmBtu) as against the current price of around $ 4 mmBTu.
In the April-June quarter natural gas prices have fallen 46 per cent from last year to average $2.40 per million British thermal unit
. The sellers include Energy company Unit Corporation and Black Hills Corp.
A PLN director Ali Herman Ibrahim said PLN has reached an agreement on the gas price around US$ 2.7-US$2.9 per million British thermal unit