Financial Daily from THE HINDU group of publications
Monday, Sep 12, 2005
Financial Daily from THE HINDU group of publications Monday, Sep 12, 2005 |
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Petroleum Industry & Economy - Petroleum GAIL plans to monetise stranded gas in Bangladesh Richa Mishra
New Delhi , Sept 11 GAIL (India) Ltd has offered to assist Petrobangla (Bangladesh Oil, Gas and Minerals Corporation) for monetisation of stranded gas from Kutubdia offshore gas field located in South-East Bangladesh. Monetisation of stranded gas means bringing natural gas to the markets through other alternative means (other than pipelines) so as to make commercial utilisation of the stranded gas. The limited natural gas reserves in an isolated field, whose quantity is not sufficient to make transportation of natural gas from those fields economically viable by pipelines, is generally termed as stranded gas. GAIL has offered to provide full support and consultancy services to Petrobangla for examining these options for monetisation of stranded gas from the said gas field, a senior GAIL executive said. According to the executive, the gas reserves in the Kutubdia offshore gas field are not sufficient enough to have commercially viable dedicated pipeline system to bring the gas from the field to market. Apart from transporting gas in compressed form in cascades, the other options that may be considered for monetisation of stranded gas include compressed natural gas (CNG) marine transportation by ships and installing gas turbine for power generation, the executive told Business Line. The power thus generated could subsequently be transmitted by laying sub-sea cables, he added. On whether GAIL has the technology for transportation of gas in the form of CNG by ship, the executive said that the company has already completed a pre-feasibility study for transportation of gas in the form of CNG by ship using Votrans (volume optimised transportation and storage) technology of EnerSea of the US in February this year. GAIL is in the process of carrying out a detailed techno-commercial feasibility study for transportation of gas using Votrans technology. The issue of monetisation of stranded gas was discussed at the meetings between GAIL and Petrobangla, a State-owned hydrocarbon company in Bangladesh, held during the recent visit of Mr Proshanto Banerjee, Chairman and Managing Director of GAIL, to Dhaka. Mr Banerjee accompanied the Minister of Petroleum and Natural Gas, Mr Mani Shankar Aiyar, who visited Bangladesh recently to hold discussions on Myanmar-Bangladesh-India gas pipeline. GAIL is currently pursuing projects in various sectors such as exploration and production, CNG, liquefied petroleum gas (LPG), and energy management and training in Bangladesh.
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