Page 16 - AsianOil Week 36

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NEWS IN BRIEF
AsianOil
SOUTH ASIA
H-Energy signs LNG co-
operation agreement with
Novatek
Today, during the Eastern Economic Forum in Vladivostok, NOVATEK and H-Energy Global, India, signed a memorandum of understanding (MOU).
The MOU envisages co-operation in LNG supplies to India on a long-term basis, joint investment in LNG terminals of H-Energy and LNG projects of NOVATEK, as well as establishing a joint venture to market LNG and natural gas from NOVATEK’s portfolio
to end-customers in India, Bangladesh and other markets. H-Energy and NOVATEK will endeavour to work together in the future LNG projects, mid-stream assets like LNG reloading and re-gasification terminals, cross-country pipelines, and small-scale LNG and L-CNG infrastructure
H-Energy CEO Darshan Hiranandani said: “H-Energy is excited to partner with NOVATEK in Arctic LNG 2, to participate in and bring supplies to the downstream customers in India and Bangladesh through its terminals in Jaigarh, Kakinada, Haldia and its two pipelines Jaigarh to Mangalore and Kannai Chatta to Shrirampur ensuring safe, reliable and economic supply chain from gas field to burner tip.”
H-ENERGY, September 4, 2019
H-Energy signs port service
agreement with Kakinada
Seaports
H-Energy through its wholly owned subsidiary East Coast Concessions Private Ltd (ECPL) and Kakinada Seaports Ltd (KSPL), signed a port service agreement (PSA) on September 6 at Hyderabad. KSPL has the concession for Kakinada Deep Water Port from the Andhra Pradesh state government. Under the PSA, H-Energy will develop an LNG regasification and reloading terminal at Kakinada port.
H-Energy shall develop an LNG hub at the Kakinada Port catering to the needs of domestic customers in the state of Andhra Pradesh and shall supply LNG through small LNG vessels to H-energy’s upcoming Kukrahati LNG terminal in the state of West Bengal and neighbouring countries like Bangladesh, Myanmar.
H-Energy CEO Darshan Hiranandani confirmed: “H-Energy is excited to partner with Kakinada Seaports for our East coast project. We believe that Kakinada with its existing breakwater and deep draft combined with its close proximity to various natural gas pipeline makes this an efficient and successful project for our customers, our partners, and ourselves.”
The PSA along with its associated agreements envisages a long-term association between the two organisations contributing towards the India’s growth story, especially, the vision of
the Government to promote a gas based clean economy.
H-ENERGY, September 9, 2019
SOUTHEAST ASIA
PVN still contributes to the State budget in excess of plan for first 8 months of 2019
By the end of August, the total State budget of Vietnam National Oil and Gas Group (PVN) was estimated at VND68.9tn, exceeding 14% of the eight-month plan and equaling 78.8% of the year plan.
In August 2019, PVN continued to carry out the targets and tasks of production and business in the context the world economy had many changes; trade tensions as well as geopolitical fluctuations in many areas negatively impacted the global and domestic economic picture; the oil and gas market fluctuated sharply. However, with the spirit of “being steadfast and brave to overcome challenges”, PVN has successfully fulfilled the targets and tasks set out in August and the first 8 months of the year.
The group’s financial targets in August
and the first 8 months of 2019 (total revenue, contribution to the State budget) have
exceeded the set plan, in which: total revenue
of the Group in August was estimated at VND55.4tn, exceeding 15% of the month
plan; accumulated revenue of 8 months was estimated at VND489.5tn, exceeding 19% of the eight-month plan and 80% of the year plan. The Group contributed VND7.83tn to state budget in August, exceeding 3.0% of the month plan; accumulated contribution amount of 8 months was estimated at VND68.9tn, exceeding 14%
of the 8-month plan and equaling 78.8% of the year plan.
PVN, September 9, 2019
Keppel on track to deliver
Singapore’s first dual-fuel
bunker tanker
Keppel Offshore & Marine (Keppel O&M), through its wholly-owned subsidiary Keppel Nantong Shipyard Co. Ltd (Keppel Nantong) is on track to deliver Singapore’s first dual- fuel bunker tanker on time and with a perfect safety record.
The vessel was named Marine Vicky by Ms Quah Ley Hoon, Chief Executive of the Maritime and Port Authority of Singapore
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Week 36 11•September•2019