India, Japan firm LNG memorandum of cooperation

first_imgIndia’s minister of petroleum and natural gas Dharmendra Pradhan signed a memorandum of cooperation on LNG with Japanese minister of economy, trade and industry Hiroshige Seko. Under the MoC signed during Pradhan’s visit to Japan the two countries will work on establishing a liquid, flexible and global LNG market.The MoC provides a framework to cooperate in facilitating flexibility in LNG contracts, the abolition of destination restriction clause and also explore possibilities of cooperation in establishing reliable LNG spot price indices reflecting true LNG demand and supply.This agreement would help in promoting bilateral relationship between India and Japan in the LNG sector, the ministry said in a statement.They also explored joint cooperation in the areas of LNG sourcing, swapping and optimization of LNG sources and commercial exploitation of methane hydrates.During his visit to Japan, Pradhan held a speech at the LNG conference in Tokyo, noting that the global LNG market is undergoing a major transformation driven by new supplies which has created a situation of oversupply.He urged the global LNG markets, in which producers and consumers of LNG have equal stakes, to join hands to design flexible terms such as pricing review, flexible take or pay, the abolition of destination restriction clause in the LNG contracts.Pradhan stressed that these reforms are essential for developing a transparent, efficient, global and balanced LNG market.last_img read more

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Britton extends Swans stay

first_img Like Michu, Britton’s new contract is a year extension on his existing deal, and will keep him with Swansea until at least the summer of 2016. Britton had previously penned a deal through to 2015 in March of last year. And the diminutive midfielder admits he could never have imagined the Swans would become a Premier League club and be looking forward to a first major cup final when he arrived at their old Vetch Field home just over a decade ago. He said: “The club has been my life for the last 10 years, apart from a six-month sabbatical at Sheffield United, of course, and there’s no other place I’d rather be playing my football. “I never expected things to turn out the way they have when I returned from Sheffield two years ago. “The club was in the Championship at the time and there was certainly no guarantee of promotion. But we went straight up into the Premier League, have established ourselves in our second season and we are now looking forward to our first major cup final.” Britton hopes his new deal will allow him to reach another landmark with the club. “The target for me has always been 500 appearances,” he added. “That will really be something special for me. I’d like to think I can keep performing regularly in the first team for a few more seasons yet. It’s probably for others to say, but personally I believe I am playing the best football of my career.” Leon Britton has become the latest player to commit himself to Swansea after agreeing a new three-and-a-half-year contract at the Liberty Stadium. The 30-year-old has become a firm fans’ favourite since making his debut while on loan from West Ham back in 2002 and, aside from a short spell at Sheffield United, has spent the last decade in south Wales, racking up over 400 appearances. His composure in possession has marked him out as a key figure in the club’s Premier League success, and he follows Michu, Wayne Routledge, Ashley Williams, Ben Davies and Michel Vorm in agreeing a new deal. Britton told the club website: “I’m delighted. I know I’ve said it before, but I would love nothing more than to finish my career here.” center_img Press Associationlast_img read more

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