Latest news with #CGS
India.com
2 days ago
- Business
- India.com
Nepal may become super rich in future as China hits jackpot in the country, the treasure is worth Rs...
Nepal may become super rich in future as China hits jackpot in the country, the treasure is worth Rs... Kathmandu: What comes as good news for India's neighbour Nepal is that scientists there have discovered a huge reserve of methane gas in the country's western region. With this discovery, the total methane reserve of Nepal may reach around 430 billion cubic meters, potentially enough to meet the country's gas demand for about 50 years, as per a report published by the China Geological Survey (CGS). The report presented preliminary findings from only one of the four wells targeted in the Jaljale area of Dailekh district, raising the country's prospects of tapping domestic energy sources, according to the state-run Gorkhapatra daily. 1.12 billion cubic meters of methane present The findings that were shared with the Nepal Government on Thursday stated that the exploration was carried out under a bilateral agreement, which was signed between Nepal and China in 2019. 'The first drilling operation was launched on May 11, 2021, reaching a depth of over 4,000 metres. It revealed an estimated 1.12 billion cubic metres of methane in a single well,' the report read. Need For 50 Years Will Be Fulfilled Gorkhapatra stated that the total reserve in the region could reach 430 billion cubic metres. 'The report reflects preliminary findings from just one of the four targeted wells. Based on initial estimates, the total reserves in the region could reach 430 billion cubic metres, which could potentially meet Nepal's gas demand for about 50 years,' Gorkhapatra said. Good News For Nepal Deputy Director General of the Department of Mines and Geology and head of the petroleum exploration project Dinesh Kumar Napit stated that it is deepest and most advanced exploration ever conducted in the country. Further testing will be done to assess the quality of the gas, commercial viability and economic potential.
Time of India
3 days ago
- Business
- Time of India
Huge methane gas reserve found in western Nepal
A preliminary report published on Thursday has revealed that the total methane gas reserves in western Nepal could reach approximately 430 billion cubic metres, enough to possibly meet the Himalayan nation's demand for gas for around 50 years. The report, prepared by the China Geological Survey (CGS), presented initial findings from just one of the four targeted wells in Jaljale area of Dailekh district, raising the possibility of the Himalayan nation tapping into domestic sources of energy, according to government daily Gorkhapatra. The findings were shared with the government of Nepal on Thursday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2024-2025 Models: Small SUVs Are Turning Heads (Take A Look) FrequentSearches | Search Ads Learn More The exploration was carried out under a bilateral agreement signed in 2019 between Nepal and China. "The first drilling operation, launched on May 11, 2021, reached a depth of more than 4,000 metres, revealing an estimated 1.12 billion cubic metres of methane in a single well," the report said. Live Events "The report represents initial findings from just one of four targeted wells. Based on early estimates, the total reserve in the area could reach 430 billion cubic metres, which could possibly meet Nepal's demand for gas for around 50 years," Gorkhapatra said. Dinesh Kumar Napit, Deputy Director General at the Department of Mines and Geology, and head of the Petroleum Exploration Project said that the site is the deepest and most scientifically advanced exploration carried out in Nepal to date. The government has allocated 45 ropanis of land equivalent to 2,50,000 sq ft area, which is less than 1 sq km, for the project. Further testing is underway to assess gas quality, commercial viability, and economic potential. "The final report from the Chinese team is expected by the end of this year, with plans to begin commercial production testing thereafter," the newspaper said. This project - entirely grant-funded by the Chinese government - is considered a pilot initiative, with the CGS providing technical and financial support. The initial estimated cost was Rs 2.5 billion, though delays caused by the COVID-19 pandemic, led to escalation.
Economic Times
3 days ago
- Business
- Economic Times
Huge methane gas reserve found in western Nepal
Synopsis A recent report indicates that western Nepal may possess approximately 430 billion cubic metres of methane gas reserves. This could potentially fulfill the nation's gas demand for about 50 years. Initial findings from a Chinese-led exploration project in the Dailekh district revealed significant methane deposits in a single well. A preliminary report published on Thursday has revealed that the total methane gas reserves in western Nepal could reach approximately 430 billion cubic metres, enough to possibly meet the Himalayan nation's demand for gas for around 50 years. ADVERTISEMENT The report, prepared by the China Geological Survey (CGS), presented initial findings from just one of the four targeted wells in Jaljale area of Dailekh district, raising the possibility of the Himalayan nation tapping into domestic sources of energy, according to government daily Gorkhapatra. The findings were shared with the government of Nepal on Thursday. The exploration was carried out under a bilateral agreement signed in 2019 between Nepal and China. "The first drilling operation, launched on May 11, 2021, reached a depth of more than 4,000 metres, revealing an estimated 1.12 billion cubic metres of methane in a single well," the report said. "The report represents initial findings from just one of four targeted wells. Based on early estimates, the total reserve in the area could reach 430 billion cubic metres, which could possibly meet Nepal's demand for gas for around 50 years," Gorkhapatra said. ADVERTISEMENT Dinesh Kumar Napit, Deputy Director General at the Department of Mines and Geology, and head of the Petroleum Exploration Project said that the site is the deepest and most scientifically advanced exploration carried out in Nepal to date. The government has allocated 45 ropanis of land equivalent to 2,50,000 sq ft area, which is less than 1 sq km, for the project. Further testing is underway to assess gas quality, commercial viability, and economic potential. ADVERTISEMENT "The final report from the Chinese team is expected by the end of this year, with plans to begin commercial production testing thereafter," the newspaper said. This project - entirely grant-funded by the Chinese government - is considered a pilot initiative, with the CGS providing technical and financial support. The initial estimated cost was Rs 2.5 billion, though delays caused by the COVID-19 pandemic, led to escalation. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. NEXT STORY
The Hindu
04-06-2025
- Business
- The Hindu
Tantransco flags issue of outage of NLC units, affecting load balance
Tamil Nadu Transmission Corporation Limited (Tantransco) has flagged the issue of outage of NLC generation units, resulting in shortage of the State's power allocation from Central generating stations (CGS). Tamil Nadu is losing a share of 745 MW out of the 1,999 MW due to forced outages in May, Tantransco Chairman J Radhakrishnan said in a recent letter addressed to NLC India Ltd Chairman and Managing Director. 'In the recent past years, NLC complex units are maintaining less generation citing various reasons due to which Tamil Nadu is getting less schedule against the allocated share there by facing much hardships in maintaining its 'Load-generation' balance, ', he said. Tamil Nadu State Load Despatch Centre is facing much hardship to maintain load-generation balance especially during non-solar peak hours, Mr. Radhakrishnan said. He called for necessary immediate measures in long term perspective to rectify the outage and maintain full generation from NLC Complex units during the current summer period especially during non-solar peak hours. Tantransco has also pointed out that there was a schedule shortfall of 219 MW from the available running units during the lighting peak hours on May 12, resulting in total affected share of 964 MW out of 1,999 MW. Tamil Nadu grid faces 5 peaks namely morning peak, solar peak, evening peak, lighting peak and Air-Conditioned (AC) night peak. Presently, the solar peak and evening peak is being met through renewable energy sources, namely solar and wind in addition to other generators, as per the State Energy Department's policy note for 2025-2026. Shortage of resources is faced during the morning peak, lighting peak and AC peak especially during the months of February, March, April and May. After meeting the demand with available sources viz., Thermal, Hydro, Central Generating Stations (CGS) share, Long Term Open Access (LTOA), Medium Term Open Access (MTOA) and Renewable Energy sources, the shortage in demand is met through short term tie ups such as Day Ahead Market (DAM), Day Ahead Contingency (DAC) Market, Long Duration contract (LDC) and Real Time Market (RTM), it added. Challenges faced in grid management are thermal outages, CGS share outages among others, the policy note pointed out. Tamil Nadu reached an all-time high peak power demand of 20,830 MW on May 2, 2024, and the record high daily consumption of 454.32 million units on April 30, 2024. Last month, Electricity Minister S.S. Sivasankar had said Tamil Nadu's power demand so far in the current summer has been lower than last year, due to rains in parts of the State. India's energy consumption stood at 148.7 billion units in May 2025, marking a 4% decline compared to the previous year. Unseasonal rains and the early onset of the monsoon kept temperatures lower than usual, leading to reduced electricity demand, as per Indian Energy Exchange.
The Sun
03-06-2025
- Business
- The Sun
CGS, CGS International sign pacts for Asean-China business partnerships at Asean Business Forum 2025
KUALA LUMPUR: China Galaxy Securities Co Ltd (CGS) and CGS International Securities Group signed five strategic memorandums of understanding (MoUs) and one letter of intent (LoI), with top corporations, development partners and investment managers across Asean and China on May 29. These landmark agreements were signed at the inaugural Asean Business Forum 2025 (ABF2025) and witnessed by Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid on behalf of Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Securities Commission Malaysia (SC) executive chairman Datuk Mohammad Faiz Azmi, Asean Business Advisory Council (Asean-BAC) Malaysia chairman Tan Sri Nazir Razak and CGS chairman Wang Sheng. They aim to promote the growth of the Asean region as an integrated and cohesive regional economic powerhouse, deepen cross-border collaboration and accelerate capital flows across high-growth sectors. The signings reflect growing confidence in Asean's long-term growth prospects and the role of Malaysia – under its Asean chairmanship – to facilitate China-Asean and intra-Asean business and capital flows. Spanning access, private equity and investment in solutions for technology, healthcare, industrial development, investment promotion and wealth management family-office facilitation, the agreements reflect CGS and CGS International's broader mission and capability to bridge capital and opportunities within the region. These signings also build on their commitment made during the Johor-Singapore Special Economic Zone Partners' Dialogue on May 19, where CGS International committed to a target of RM6 billion – comprising RM3 billion in facilitation of foreign direct investment within three years and RM3 billion in assets under management in the establishment of single family office ventures. The signing parties and scope of partnerships of the LoI and the MoUs signed by CGS and CGS International include: • LoI for China-Asean Investment Programme – Establish a private equity fund to invest in high growth sectors such as healthcare/medical devices, semiconductor, advanced manufacturing, renewable energy, agriculture/food security and consumers throughout Asean with Malaysia as a key regional anchor and to facilitate the transfer of industry knowledge and technology from China to Asean. ARROW -- MoU with Mida to jointly promote Malaysia as an investment hub, support investor facilitation and collaborate on fundraising, business matching and supply chain development for high-value industries. ARROW -- MoU with Fullgoal Asset Management (HK) Limited (Fullgoal HK) and Bursa Malaysia Bhd. Fullgoal HK and CGS International will jointly list exchange-traded funds on Bursa Malaysia, with the aim to provide Malaysian investors with access to a wider range of investment options, and exposure to global markets. ARROW -- MoU with GL Capital Management Limited to jintly establish a closed-end private equity fund dedicated to healthcare/medical devices sector in Asean to tap its high growth opportunities. ARROW -- MoU with OCBC Bank (Malaysia) Bhd to jointly facilitate China and Asean trade and investment flows by supporting regional clients with banking, treasury and investment banking services. ARROW -- MoU with Zhongguancun International Holding Limited (Hong Kong) to facilitate the entry of Chinese companies in the sectors of advanced manufacturing, digital technology, food security and healthcare, into the Johor-Singapore Special Economic Zone and selected Malaysian industrial parks. CGS International Group CEO Carol Fong, said: 'These signings are more than just intents and agreements – they signify our strong confidence in the investment and growth potential of Asean and Malaysia. CGS International is proud to play the role of connector and catalyst, and to leverage our wider Asean presence and Chinese parentage to help our clients and partners accelerate cross-border strategic collaborations, capital and talent mobility for business growth.' ABF2025 was co-organised with Asean-BAC Malaysia and Mida, supported by partners MBSB and OCBC Malaysia. The forum was held in conjunction with the 46th Asean Summit 2025 and Sean-GCC+China Summit 2025. Over 500 regional policymakers, investors and corporate leaders attended the full-day event which featured strategic panels, high-level keynotes, and closed-door business matchmaking.
