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Tuesday, January 20, 2009

Petronet ties up with BP

Petronet LNG Ltd, India's largest liquefied natural gas importer, has tied up with global oil and gas major BP Plc's trading arm to import the liquid fuel at its Dahej terminal this year.

Petronet in November signed a short-term contract to import LNG for meeting the fuel needs of Dabhol power plant in Maharashtra, an industry source said.

The company had last year imported LNG for the 2,150 MW power plant from RasGas of Qatar. The deal for 1.25 million tons of LNG expired in December.

BP, sources said, may supply LNG mainly from Damietta LNG project in Egypt, where it has a long-term LNG purchase contract.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 05
18:00 Unit Labor Costs 2 6.6% 5.7% 5.7%
18:00 Continuing Jobless Claims 1 1.904M 1.910M 1.907M Revised from 1.919M
18:00 Initial Jobless Claims 4-week average 1 235.00K 230.50K Revised from 230.75K
18:00 Initial Jobless Claims 2 247K 235K 240K
18:00 Goods and Services Trade Balance 1 $-61.6B $-94.0B $-140.5B
19:30 Ivey Purchasing Managers Index s.a 2 48.3 47.9
19:30 Ivey Purchasing Managers Index 2 52.3
20:00 EIA Natural Gas Storage Change 1 111B 101B
21:00 4-Week Bill Auction 1 4.215%
21:30 Fed's Kugler speech 2
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