ONGC fails again to attract bids for stake in Deen Dayal gas field
State-owned Oil and Natural Gas Corporation’s (ONGC) third attempt to get a partner to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal has met with the same fate as previous efforts as it got no bids, sources said. The tender offering stake to technical and financial partners in the Deen Dayal field, which ONGC had acquired from a Gujarat government firm for USD 1.2 billion, received no bids, two sources aware of the matter said ONGC on June 12 sought expression of interest from “global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy” for the field, according to the tender document. Bids closed on September 12.
VTTI looks to buy into LNG terminals in Asia
Energy storage company VTTI BV, backed by Abu Dhabi’s main oil company and Vitol Group, is looking to invest in LNG import terminals in Asia as demand for the fuel increases in the region, according to Bloomberg. “There is a lot of potential in India, Bangladesh, Pakistan and the Philippines,” Chief Executive Officer Guy Moeyens said in an interview on Tuesday in Fujairah in the United Arab Emirates. “There will be a disproportionate need for regasification facilities in that region. More than, I would say, in Europe or the Americas.” The Rotterdam-headquartered company acquired a 50% stake in Dragon LNG, one of the UK’s three LNG import terminals, in August and agreed to buy a majority stake in Italy’s Adriatic LNG earlier this year. It also has an agreement with Hoegh LNG to jointly develop an energy terminal in the Dutch province of Zeeland. It’s now keen to expand in similar facilities in Asia by investing alongside a partner, Moeyens said. LNG is taking on an increasingly important role in the world’s energy supply as countries look to use more of the cleaner-burning fuel amid concerns over climate change, while they also build more renewable energy projects. The US and countries in the Middle East are among regions expanding their LNG export capacities in order to meet the rising demand. VTTI counts Abu Dhabi National Oil Co. and Vitol as shareholders. Adnoc this year approved the construction of a new LNG export terminal, and bought stakes in projects in the US and Africa.