Page 54 - IACC Newsletter March 2013 Issue no. 9

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The change will be effective April 1, after which Agrawala, 49, will succeed John Flannery who moves to the US to take the
role of senior vice-president for business development reporting directly to the CEO, Jeffrey Immelt. Flannery, 51, has been
president and CEO of GE India since 2009.
"Under Flannery's leadership, we have built a strong local team and positioned ourselves well. I am confident that Banmali
will build on that good work," GE's vice-chairman John Rice said.
US eases curbs to allow GAIL ship shale gas to India
The US has allowed state run Gail to ship shale gas to India, making an exception to its restrictive export policy. This will
facilitate Gail India to import 3.5 million tons per year of liquefied natural gas (LNG) for two decades from 2017-18,
government and industry officials said. Encouraged by this, the government is now trying to persuade Washington to relax
the policy for other companies also.
Reliance Industries has invested over $5 billion in shale gas business in the US comprising four separate joint ventures with
Chevron, Pioneer Natural Resources and Carrizo Oil & Gas and Pioneer for shale gas or related areas. State-run gas marketer
Gail is keen to import gas from US because of huge energy demand in India. While Gail is allowed to ship 3.5 million tons of
LNG from Sabine Pass Terminal in USA, it is still awaiting the US government's nod to import gas Carrizo's Eagle Ford shale
gas assets , where it acquired 20% equity stake about a year ago.
The US does not allow export of gas to a country, with which it does not have a free trade agreement (FTA). But, permission
is given to export to India from the Sabine Pass Terminal in USA. The Sabine pass project is on schedule and first supply is
expected by 2017-18, a Gail official said.
"According to forecasts the US will be the largest exporter of oil and gas by 2017 and India has intensified its oil diplomacy
with the country. We expect the US government to relax oil exports to India soon," a government official said. Oil Minister
Veerappa Moily is visiting USA next week. His visit may coincide with Gail signing some agreements related to shale gas
deals, officials said.
Gail spokesman declined comment. Moily is accompanied by senior oil ministry officials and Gail chairman BC Tripathi.
Preparatory to Moily's visit, Director General of Hydrocarbons RN Choubey and ONGC chairman Sudhir Vasudeva also visited
the country and met several US companies and government agencies for prospective strategic tie-ups, officials said.
ONGC is close to finalizing the $5 billion deal for 8.4% stake in giant Kashagan oil field from Conoco-Phillips after US energy
giant's partners did not exercise their pre-emptive right. "Conoco-Phillips has also submitted a proposal to ONGC for
acquisition of stakes in its Andaman blocks and interested in its deep-water blocks in the eastern coast," one official said.
"ONGC is planning to set up a full-fledged office in Houston to explore opportunities for oil equity and M&A, technology
transfers and other collaborations," a company official said. ONGC in collaboration with US India Business Council (USIBC) is
planning to set up an Energy Task Force for collaboration in oil and gas sector, which will participate in big way at the US-
India energy summit in late 2013, expected to be inaugurated by PM Manmohan Singh.
InMobi on MIT's 2013 list of 50 innovative companies
Bangalore-based mobile advertising platform and solutions provider InMobi has secured a place in MIT Technology Review’s
list of ‘50 Disruptive Companies’ for 2013. It is the only Indian company to have made it to the list. The list also features
Apple, Google, Facebook, General Electric, Square, Pinterest, Safaricom, Audi, etc.
In the ‘50 Disruptive Companies’ list, companies are not based on market performance. The list identifies global companies
that are pushing the envelope of current business models to drive innovation and create significant impact in the market.
“Over the last 12 months, in their multiple tech fields, the honorees have taken risks to unsettle an existing marketplace or
create a new market entirely,” said an MIT Technology Review release.