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Posted on Nov 17, 10:54AM | IBNS
The Ministry of Petroleum and Natural Gas Friday notified the rules on eligibility conditions for registration of Liquefied Natural Gas Terminals (LNG).
The Petroleum Ministry formulated the eligibility conditions with the objective of promoting the setting up of LNG Terminals in an environment of equitable access and commercial transparency so as to foster higher availability of imported Liquefied Natural Gas in the country.
The conditions for registration of LNG Terminal states that offer at all times, after registration, 20 percent of its short term (less than 5 year contract) uncommitted re-gasification capacity or 0.5 MMTPA, whichever is higher, as common carrier capacity.
The conditions also state that the eligible person must adhere to the technical standards and specifications including safety standards in activities relating to petroleum, petroleum products and natural gas, as prescribed by the Board by regulations, which are in force, including those prescribed by the Oil Industry Safety Directorate.
Also the eligible person must furnish a bank guarantee for an amount equal to 1 per cent of the estimated project cost of the liquefied natural gas terminal or Rs. 25 crore, whichever is less.
Petroleum Minister Veerappa Moily Friday approved a proposal for sharing increased LPG Connection Security Deposit on 50:50 basis between the government of NCT of Delhi (GNCTD) and CSR funds of the Major Oil PSUs for new LPG connections under the Kerosene Free Delhi Scheme to BPL/AAY families.
"The security deposit was recently increased from Rs 1400 against LPG cylinder pressure regulator to Rs 1600," Moily said.
The Chief Minister of Delhi Sheila Dixit urged Moily on Friday that the increased security deposit should be shared on equal basis which would re-start the process of releasing new connections to BPL/Antyodaya families under Kerosene Free Delhi Scheme of the government of NCT of Delhi.