NEWS

Thursday, 18 August 2016

Possibility of Fall of Price in Expensive Commodities like Gas & Oil in Northeast

Possibility of fall of price in expensive commodities like Gas & Oil in Northeast is likely to happen in the future with government’s superb plan to connect gas pipeline of 6,900 km from Bangladesh via Siliguri ,Durgapur Myanmar to most north-eastern states including West Bengal.


According to ONGC Executive director S.C. Soni about thirteen routes will be extended from this 6,900 km pipeline, meeting proposed destinations for gas supply.



This project will give uplift in the economy of Northeast oil markets after materialize of gas and oil pipeline network in the neighboring SAARC nations highlighted Soni on account of positive outcome from the Hydrocarbon Vision 2030 envisions. Productivity of oil and natural gas will double in the Northeast, enhancing trade and business in these categories of natural resources sales according to Soni.


Already Numaligarh Refinery Ltd (NRL) of Assam has come to a sale-purchase agreement with Bangladesh Petroleum Corporation(BPC) including Indian Oil Corporation (IOC) to extend gas pipe to the north-eastern regions by  installing Liquefied Petroleum Gas (LPG) terminal plant in Chittagong port city. Prime Minister Narendra Modi had already initiated talks for agreement on gas pipeline with Bangladesh Prime Minister Sheikh Hasina last year where in 2016 action on the deal is soon to be expected.

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