GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year.
Gazprom Marketing and Trading Singapore (GMTS), under a long-term 20-year contract, was to supply 2.5 million tonne of LNG to state-owned GAIL (India) Ltd this year. But it has not supplied any cargo or shipload of LNG since early June.
Petronet, which operates two liquefied natural gas (LNG) import facilities at Dahej in Gujarat and Kochi in Kerala, is looking to foray into the petrochemicals business, according to the firm's latest annual report.
The recent change in the government’s stance, under which domestic supply for the priority sector has been increasing, is beneficial for the priority sector volume-heavy players like IGL
GAIL, India's largest gas distributor and operator of pipelines, has not received the agreed imports since May and has had to cut supplies to clients as a result.
India’s largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom. The company has since June defaulted on the supply of 5 cargoes of LNG under that contract citing difficulty in sourcing gas due to sanctions, two sources briefed on the matter said.
Europe starts filling up its storage tanks with gas from the middle of the year to sustain itself in winter. Russia’s cut has impacted the incremental flow which was meant for storage.
Fourth-quarter performance was better than September’s as international gas prices eased from $50/MMBtu to $20-25/MMBtu. However, the shortage of APM gas continued in the quarter
India's largest gas firm GAIL is getting regular supplies of LNG under a long-term deal with Russia's Gazprom despite the geopolitical crisis, the firm's chairman and managing director Manoj Jain said.
The consortium's potential interest in the Russian plant shows how India is willing to move in on energy assets and cheap oil supplies coming on the market as a result of Western companies pulling back from Russia.
The company in the immediate term is looking to tie up 0.75 to 1 million tonnes of LNG to meet the burgeoning energy demand in the country, particularly of the city gas sector.
City gas distributors (CGD) have set up sales network to supply gas to transport and households across the country, buoyed by Prime Minister Narendra Modi's aim to raise the share of gas in India's energy mix to 15% by 2030 from 6.7% now.
City gas distributors (CGD) have set up sales network to supply gas to transport and households across the country, buoyed by Prime Minister Narendra Modi's aim to raise the share of gas in India's energy mix to 15 percent by 2030 from 6.7 percent now.
The government more than doubled the price of gas from domestic fields to $6.1 per million British thermal unit for the six-month period beginning April 1.
One way to boost LNG use is to borrow a page from the EV playbook and incentivise a conducive environment for the increased use of cleaner equipment powered by LNG
Natural gas demand is expected to increase despite high prices
Even if the 2030 target is achieved, which is a tall order, the US will be able to replace only 30 percent of Russia’s supply.
The extent to which global LNG supply can expand is constrained, however, setting Europe up for a battle for supply with Asian buyers.
India’s January crude oil import bill jumped 51 percent year on year to $11.6 billion at an average price of $81.9/barrel.
Indraprastha Gas was the least affected among peers due to a higher share of CNG in its volume sold
Natural gas prices around the world soared late last year due to a combination of tightening supplies, weaker renewable power generation and a strong growth after COVID-19.
ONGC said that it will continue to invest around Rs 30,000 crore per year on capital expenditure aimed at arresting the decline in output and subsequently increasing it.
The standoff can affect India’s commodity markets and upset its energy plans.
Rising natural gas prices have disrupted economies in Europe and Asia and has brought Kazakhstan to the brink of revolution
GAIL, by controlling India's largest gas transmission network, is present across the value chain and will play an even bigger role in coming years