Russia’s Gazprom Calls For Urgent Gas Investment Decisions In Europe
Long-term gas demand in Europe means immediate investment decisions are needed to build new infrastructure, Alexander Medvedev, a deputy chief executive officer at Russian gas giant Gazprom, said on Tuesday. Last year, Russia supplied Europe and Turkey with a record 179.3 billion cubic metres (bcm) of gas as consumers capitalised on low gas prices, which follow the prices of oil with a lag of six to nine months. Its share of the EU gas market rose to an all-time high of 34 percent from 31 percent in 2015. Russia plans to boost supplies further and remain the dominant player on the European gas market. “In order to cater for the growth (in Europe’s gas demand) tomorrow, large-scale investment decisions are required already today. This is a stimulus for us to invest in new fields and gas pipelines,” Medvedev told a European Gas conference in Vienna. “According to a consensus forecast of the world’s leading energy agencies, thanks to new spheres of growth, Europe will need some additional 90 bcm of gas by 2025 from the current level of supply and more than 120 bcm by 2035,” he said. Nord Stream-2 Gazprom has been pushing for the Nord Stream-2 underwater gas pipeline project, which would double the existing annual capacity of the current two pipelines from 55 bcm. The project has faced resistance from some European countries, notably from Poland, which want to cut their reliance on energy supplies from Moscow amid political tensions. “Gazprom is ready to create a powerful infrastructure for gas supplies, which will cost European taxpayers not a single euro cent,” Medvedev said. He added Nord Stream-2 was on schedule as new pipelines were being commissioned in Russia to supply gas from Siberia. “The Nord Stream-2 project is being implemented in full compliance with the schedule. The Bovanenkovo-Ukhta-2 gas pipeline has been launched recently, this is a part of our Nord Stream-2 schedule,” Medvedev said about a pipeline in Siberia. Geoffroy Hureau, the general secretary of data provider CEDIGAZ, said Russia would be able to keep its market share in Europe thanks to lower production costs and have the upper hand in the battle with an expected influx of liquefied natural gas from the United States over the coming years. “They have a lot of gas they can put on the market at relatively low cost because they have developed some fields in view of a growing European market,” he said on the sidelines of the conference. Mitch Richmond Jersey
Petrochina Aims To Meet A Third Of China’s Shale Gas Target By 2020
China’s biggest energy giant PetroChina plans to step up shale gas development in Sichuan province this year, aiming to meet a third of a 2020 government target for the unconventional resource, according to state media and a government official. News agency Xinhua reported on Wednesday that PetroChina will step up drilling in southern parts of Sichuan province, China’s top gas-producing region and a key area for early shale gas development. PetroChina’s plan to build 10 billion cubic metres (bcm) of shale gas output capacity by 2020 in Sichuan province would represent a third of Beijing’s production target for the resource that year. Domestic rival Sinopec Corp, which has been leading the sector with China’s largest commercial shale gas discovery in nearby Chongqing municipality, aims for 10 bcm of output by the end of the decade as well. “PetroChina is playing catch-up with Sinopec, as its understanding of the geology deepens and its technology improves,” said a government official who oversees shale gas development. “Longer-term PetroChina has greater potential in tapping shale resources as it operates on a much larger acreage,” said the official, who declined to be named as he is not authorized to speak to press. China, which claims to have the world’s largest technically recoverable shale gas resources, has a much higher development cost compared with North America, however, due to more complicated geology and scarce water resources. Despite Beijing’s push to boost gas use at the expense of coal, natural gas demand has since late 2014 grown much slower compared with the previous decade, mainly because of easing economic growth and competition from cheaper global supplies. PetroChina last year produced 2.3 bcm of shale gas in Sichuan province, mostly from 120 production wells in the Changning-Weiyuan pilot zone, Xinhua said. It also laid 220 kilometres of pipelines. For 2017, the state oil and gas company plans 19 new rigs to drill 110 wells in the area, part of a total 600 wells planned over the coming four years, Xinhua said. Mike Daniels Womens Jersey
Petronas boosts capacity at Malyasian LNG complex
State-run Petronas subsidiary Petronas LNG 9 Sdn. Bhd. (PL9SB) has started commercial operations of the ninth LNG liquefaction train at the Petronas LNG Complex (PLC) in in Bintulu, Sarawak, Malaysia (OGJ Online, Feb. 24, 2012). Equipped with a nameplate capacity of 3.6 million tonnes/year, the new production train entered commercial operation on Jan. 1, said JX Nippon Oil & Energy Corp. (JX NOE), Tokyo, which owns a 10% interest in PL9SB. Startup of PL9SB’s liquefaction plant raises total production capacity at PLC to about 30 million tpy from its previous capacity of 25.7 million tpy. Announcement of PL9SB’s official launch of commercial operations follows initial startup, commissioning, and production activities at the train in September 2016, Petronas said in its latest quarterly earnings presentation to investors. JX NOE, which purchased equity interest in PL9SB in June 2016, also holds 10% interest in Petronas subsidiary Malaysia LNG Tiga Sdn. Bhd.’s operations at PLC, according to separate June 3, 2016, releases from JX NOE and Petronas. In 2012, Petronas said Train 9, once completed, will receive its required feed gas of up to 850 MMcfd from various fields off Sarawak and, alongside all associated utilities, include units for the following: • Gas receiving. • Acid gas removal. • Dehydration and mercury removal. • Fractionation and liquefaction. • LNG rundown Marcus Cooper Womens Jersey
Rural Roads Target well within reach- Ministry of Rural Development
Pradhan Mantri Gram Sadak Yojana (PMGSY), a flagship scheme of the Ministry of Rural Development will achieve the annual targeted length of 48,812 kilometers of rural roads by 31st March, 2017, as the construction work picks up from January to May every year. As on 27.01.2017, a total of 32,963kms. has been completed which is 67.53% of the annual target. This translates to 111 kms. of roads getting constructed every day. According to the annual target (48,812 kms.), the average per day construction should be 133kms per day. It is important to realize that September to December are lean months for road construction, whereas the construction picks up from January to May every year. It is also important to underline that from April to August, 2016 PMGSY had achieved an average per day construction of 139 kms. per day and therefore by 31st March, 2017 it will achieve the annual targeted length of 48,812 kms. The annual target of habitations in 2016-17 is 15,000 habitations, against which, as on date (27.01.2017) 6,473 habitations have been connected. PMGSY would also by 31st March, 2017, achieve the habitation target also. Another major achievement has been the focus of using “green” technologies and non-conventional materials (waste plastic, cold mix, geo-textiles, fly ash, copper and iron slag etc.) in construction of PMGSY roads because these are locally available, low cost, non-polluting, labour friendly and fast construction technologies / materials. In the first 14 years of PMGSY (from 2000 to 2014), only 806.93 kms. of roads were constructed using these technologies / materials. In the last 2 years (2014-2016), 2,634.02 kms. of PMGSY roads have been constructed using these technologies /materials. In the present year (2016-17) till date (27.01.2017), 3,000 kms. have been constructed using these technologies / materials. Greg Zuerlein Jersey
Germany to finance strategic infrastructure projects in India
Germany is set to finance long-term strategic projects in India particularly in the railway, infrastructure and smart cities sectors as part of efforts to support India’s “growth story”, a top German official has said. “Germany is ready to support India’s growth story and become part of India’s DNA in key long term strategic projects for India’s growth,” Matthias Machnig, State Secretary, Federal Ministry of Economic Affairs and Energy, was quoted as saying by an Indian Embassy statement. During a meeting with visiting Indian CEOs delegation led by CII, he also informed about the German Cabinet’s decision to finance long-term strategic projects in countries like India particularly in railways, infrastructure and smart cities sectors, the statement said. German government has set up a special unit in the Economics Ministry to implement this decision of the German Cabinet, it said. In a meeting with the CII delegation, German Federal Finance Minister Wolfgang Schauble said that Germany is committed to working with India for mutual benefit. The CII delegation was led by Shobana Kameneni, CII President-Designate and Vice Chairperson Apollo Hospitals Ltd. This was the largest CII delegation to visit Germany since India’s Participation in the 2015 Hannover Messe where India was a partner country. The 10 members of delegation also included Salil Singhal (PI Industries Ltd), Rajiv Modi (Cadila), Sanjay Kapur (Sona Koyo Steering Systems), Prabhakar Atla (Cyient Ltc), Mohan Murti (Reliance Industries), Mukul Dhyani (Wipro) and Rajesh Menon from CII. They also participated in a roundtable meeting with German CEOs led by Federation of German Industry (BDI) President Dieter Kempf. It was organised by BDI and the Indian Embassy. CII and BDI would be jointly working on a programme, to intensify their engagements in key areas including skill development, the statement said. The Indian delegation also interacted with a number of German industry leaders from German Asia-Pacific Business Association. The CII and The Economic Council also signed a memorandum of understanding (MoU) to strengthen economic and trade ties between India and Germany during ‘The Germany-India Economic Dialogue’ event held at the Indian Embassy here yesterday. The MoU will help in jointly promoting Indo-German business by means of frequent exchange visits for business cooperation, facilitating investment and business development, and jointly organising road shows in both countries for promotion of investment opportunities, the statement said. Paul Martin Authentic Jersey
Infrastructure sector seeks higher allocation, tax breaks
The infrastructure sector’s stakeholders expect a rise in budgetary allocation for 2017-18 and tax breaks to reinvigorate the industry. “Over the last few years, the government has been trying to address the impediments to the infrastructure growth story. However, investment in the sector is yet to reach the desired level,” Vishwas Udgirkar, Partner, Consulting, Deloitte Touche Tohmatsu India, told IANS. “Budgetary allocations are expected to increase and with bank capitalisation taking place due to demonetisation, it would be interesting to see if any announcements are made to facilitate channelising this much needed capital to the sector.” According to Manish Agarwal, Partner Leader Infrastructure with PwC, public sector spending is expected to remain the prime driver for infrastructure build-out over the next year as private sector investment remains subdued. “Financial stress in the banking system remains a key hurdle to private investment coming back into the sector. Addressing this, along with implementation of Kelkar Committee recommendations, could revive PPPs (public private partnerships) faster,” Agarwal said. On the merger of the Railway Budget with the Union Budget, Agarwal noted that the move will help to bring in more focus on the key issues relevant to the budget. “The Finance Ministry will be able to start taking a view on allocation between rail, road, water to optimise logistics costs, and make transport greener,” Agarwal said. “While road and rail are likely to get large allocations, we expect to see growth in allocation to inland waterways and Sagarmala programes.” The provisions for attracting global funds such as pension funds and sovereign wealth funds would go a long way in facilitating infrastructure development, said Jaijit Bhattacharya, Partner, Strategy and Economics, KPMG in India. “Along with an increase in budgetary allocation for the infrastructure sector, it is crucial to establish regulatory mechanisms in infrastructure creation, which enables private investment in infrastructure funds such as National Investment and Infrastructure Fund (NIIF),” he said. “In addition, a more aggressive adoption of asset recycling is desirable as it would free up a very significant amount of funds which can be further invested into more infrastructure. “This would unleash a virtuous cycle and considerably accelerate infrastructure development. In the road sector, this strategy is termed as TOT (Toll-Operate-Transfer) and is being actively embraced.” Besides higher allocation, the sector is hopeful of tax sops. The Construction Federation of India (CFI) said it anticipates the Union Budget 2017-18 to bring substantial relief in direct and indirect taxation and also remove anomalies in the taxation laws. Filip Chlapik Jersey
UAE, India share thriving aviation market in region
The UAE and India share a thriving aviation sector with carriers from both sides consistently recording significant annual upswing in passenger traffic on the back of a vibrant travel demand from the 2.8 million NRIs in the Emirates apart from fast growing two-way tourist traffic. The latest data released by Dubai International Airport, or DXB, the world’s busiest airport for international passengers, exemplify the fast growing air connectivity between the two countries. DXB, which is targetting a traffic of 89 million in 2017, announced on Tuesday that it recorded capacity increases and witnessed the launch of new services by Spice Jet, Jet Airways, Air India and other carriers in 2016 as India continued to lead as Dubai’s single largest destination country. Both countries’ aviation sectors are expected to get a further fillip following the second visit to the New Delhi by His Highness Shaikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, to India aimed at elevating all-round bilateral ties to a new level. The UAE and India had signed several aviation accords, including various seat quota agreements inked by New Delhi with Abu Dhabi, Dubai, Sharjah and Ras Al Khaimah over the years to keep with the continuous surge in traffic demand. Vince Williams Womens Jersey
Russia and India Negotiating Su-30 Combat Jet Support Deal
Russia and India are close to signing a long-term support agreement for the fleet of Sukhoi Su-30MKI combat aircraft operated by the Indian Air Force (IAF). It includes an improved schedule for the delivery of spares from Russia, local manufacturing of some spares and the creation of logistics hub for the aircraft at the Hindustan Aeronautics Ltd. (HAL) production facility in Bangalore. India has contracted for the delivery of more than 300 of these aircraft. The Su-30MKI is a specialized variant of the Su-30MK-model series and was developed and built at the Irkut factory in Russia. It features several modifications that differentiate it from the original Su-30 design. These include a set of canard foreplanes and a thrust vector control (TVC) module coupled to the aircraft’s fly-by-wire flight control system; the N011M passive electronically scanning array (PESA) radar set produced by the NIIP design bureau in Moscow; and a mix of Israeli, French and Indian-produced avionics. It is this unique configuration of this aircraft, which is different from the other Su-30MK variants sold for export, that complicates the logistics chain for this aircraft, say Russian aerospace specialists familiar with the program. Indian officials had previously expressed dissatisfaction with the declining availability rates for the Su-30MKI, but have seen improvements in those numbers recently. “Sukhoi availability, which had slipped to 46 percent, is today above 63 percent,” said the Indian defense minister, Manohar Parrikar, in a statement to Indian news outlets. “Our status with Russia is much better than two years back. We have signed many of the support contracts this year. Very few are left. We are working on long-term arrangements, including manufacturing some of the [Su-30MKI] spares in India. Earlier, there were some problems due to the need to change their [Russian] laws.” Mel Blount Authentic Jersey
AERA allows new airports to adopt hybrid model for tariffs
Regulator AERA has allowed upcoming airports to follow a hybrid model for determining tariffs that may lead to fliers shelling out more as airlines may pass on the additional burden to them. Under the ‘Hybrid Till’ model only up to 30 per cent of the non-aeronautical revenues, which include segments like retail, food & beverages and parking, would be used for cross-subsidisation of aeronautical charges. Aeronautical charges include those related to route and terminal navigation services. Currently, most of the airports follow ‘Single Till’ model whereby non-aeronautical revenues are completely used to cross subsidise aeronautical charges. With the new model, only up to 30 per cent of the non- aeronautical revenues would be used for cross subsidisation. Such a tariff mechanism could push the expenses higher for fliers as airport operators might hike the user development charges. The new national civil aviation policy, unveiled in June last year, had recommended ‘Hybrid Till’ model. In a six-page order, dated January 23, AERA (Airports Economic Regulatory Authority) said that in the future tariffs at major airports would be determined under “Hybrid Till wherein 30 per cent of non-aeronautical revenues will be used to cross-subsidise aeronautical charges”. A.J. Derby Womens Jersey
Navi Mumbai airport bids extended yet again to Feb 13
The dogged Navi Mumbai airport plan further delayed with the implementing agency Cidco for the second time today extending the deadline for submitting bids to February 13 as it received only one bid from the GVK-led Mumbai International Airport. The second extension comes after the authority deferred the deadline for receiving bids for RFQ (request for qualification) for two weeks on January 9. “Today we received only a single bid from GVK (which anyway has the first right of refusal being the operator of the Mumbai airport). Therefore, we have given a further extension to all the three bidders to submit their bids till February 13. This is the last extension,” a Cidco official told PTI. The airport project has been in the work for over a decade but has not moved ahead even now. The main hurdles being the land acquisition, which has been completed only half needed for the crucial aeronautical activities. The City and Industrial Development Corporation (Cidco), which is the nodal agency for the over Rs 16,000- crore international airport project, had short-listed four consortia — GMR, GVK, Hiranandani groups and Tata Reality. Devin Harris Womens Jersey