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LNG

Global LNG market remains in fragile equilibrium on limited supply: IGU

The pace of growth was lower than the 5.6 per cent seen in 2022, as limited supply remains the primary growth- limiting factor

Global LNG market remains in fragile equilibrium on limited supply: IGU
Updated On : 26 Jun 2024 | 12:40 PM IST

EU adopts 14th package of sanctions against Russia, including LNG: Report

The new restrictions on gas aim to reduce Russia's revenues from liquefied natural gas (LNG) exports by banning trans-shipments - transferring cargoes from one ship to another - off EU ports

EU adopts 14th package of sanctions against Russia, including LNG: Report
Updated On : 24 Jun 2024 | 10:46 PM IST

ONGC partners with Indian Oil to set up LNG plant in Madhya Pradesh

State-owned Oil and Natural Gas Corporation and Indian Oil Corporation have signed an agreement to set up a small-scale liquefied natural gas plant near the Hatta gas field in Madhya Pradesh. The memorandum of understanding (MoU) was signed on June 17, Oil and Natural Gas Corporation (ONGC) said in a statement. It has a gas discovery in the Vindhyan basin. Gas from it will be converted into liquefied natural gas (LNG) for transportation by trucks to consumers. "The establishment of the Hatta LNG plant will significantly enhance the Vindhyan Basin's status, upgrading it from a Category II to a Category I Basin," it said. India's sedimentary basins, covering a total area of 3.4 million square kilometres, are divided into three categories -- Category-I - which has hydrocarbon reserves and already producing; Category-II that have contingent resources pending commercial production, and Category-III with prospective resources awaiting discovery. "The plant will utilise cutting-edge ...

ONGC partners with Indian Oil to set up LNG plant in Madhya Pradesh
Updated On : 21 Jun 2024 | 11:17 PM IST

India's LNG resurgence may be short-circuited by rising costs of spot fuel

India's gas-fired generators, which took 5-6 cargoes of spot LNG in May, have little access to limited-term supplies and must rely on expensive spot fuels to generate power

India's LNG resurgence may be short-circuited by rising costs of spot fuel
Updated On : 18 Jun 2024 | 12:05 AM IST

What EU sanctions on re-exporting Russian LNG would mean for global gas

Russian producer Novatek PJSC relies on stopovers in the EU to move Arctic fuel from ice-class ships onto conventional tankers

What EU sanctions on re-exporting Russian LNG would mean for global gas
Updated On : 13 May 2024 | 11:10 PM IST

Panama Canal in talks with US LNG producers to increase transportation

The canal is typically used by US Gulf Coast exporters to send LNG cargoes to Asia via the Pacific Ocean, but from last year low water levels forced cuts to daily crossings

Panama Canal in talks with US LNG producers to increase transportation
Updated On : 10 May 2024 | 9:56 AM IST

EV adoption may pose threat to CNG firms dominance in India: Report

Chinese city gas distribution companies have slowed down as the country shifts to electric mobility, said the Prabhudas Lilladher report

EV adoption may pose threat to CNG firms dominance in India: Report
Updated On : 02 Apr 2024 | 7:19 PM IST

As domestic LNG output rises, imports will decline to 45% by FY26

With increasing local production, the import dependency of natural gas in general and LNG in particular, is likely to come down to 45 per cent by FY26, says a report. According to a Care Ratings analysis, with the rise in domestic natural gas production, the dependency on imported LNG (liquefied natural gas), which stood at 53 per cent in FY21, has gradually declined over the past three years and is expected to remain at around 45 per cent by FY26, the agency said. Higher demand for natural gas is also expected to be supported by sizeable growth in domestic gas production, wherein nearly 30 MMSCMD of new domestic natural gas production has gradually come on-stream over the past three years and another 15 MMSCMD of new domestic production is expected to come on-stream next fiscal alone. There has been a steady growth in natural gas consumption till FY20. However, following the pandemic and a sharp increase in imported LNG prices due to geopolitical situation, the demand for natural

As domestic LNG output rises, imports will decline to 45% by FY26
Updated On : 19 Mar 2024 | 4:55 PM IST

Swan Energy's natural gas business arm prepays Rs 2,206 crore debt

Swan Energy on Monday said its natural gas business arm Swan LNG Pvt Ltd has prepaid Rs 2,206 crore of loan taken from a consortium of lenders. Post-prepayment, Swan LNG's debt has come down to Rs 1,611 crore and the firm will save around Rs 250 crore in interest cost annually, the company said in a statement without disclosing the lenders' names. Before the repayment, the group's overall debt stood at Rs 3,817 crore as of December 2023. To facilitate the pre-payment, the parent company Swan Energy has lent Rs 2,210 crore to Swan LNG. Swan Energy had last week raised Rs 3,000 crore through a qualified institutional placement of equities to SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Fund, SBI General Insurance, BNP Paribas Mutual Fund, Nomura, Diamond Asia, Bank of India Mutual Fund, ITI Mutual Fund, Goldman Sachs, Future Generali, Anand Rathi, and Quant Mutual Fund, among others. Meanwhile, public sector fertilizer major IFFCO, which has a joint venture with S

Swan Energy's natural gas business arm prepays Rs 2,206 crore debt
Updated On : 04 Mar 2024 | 4:11 PM IST

Key acquisitions to expand footprint in India's energy sector: Honeywell

Compressors Control Corporation acquired by Honeywell counts ONGC, GAIL, Petronet LNG among customers

Key acquisitions to expand footprint in India's energy sector: Honeywell
Updated On : 01 Mar 2024 | 10:48 PM IST

Deepak Fertilisers ties up with Norway's Equinor for long-term LNG supply

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) on Monday said it has entered into a long-term agreement with Norway's Equinor for supply of Liquefied Natural Gas (LNG). In a regulatory filing, DFPCL said the a long-term LNG contract will strengthen its value chain from gas to ammonia to various downstream fertilisers, industrial chemicals, and mining chemicals. This end-to-end tie-up shall establish a strong long-term foundation for all of DFPCL's product segments. "This agreement is for annual supplies of up to 0.65 million tonnes over a period of 15 years, beginning 2026. The tie-up provides room for trading some LNG parcels in the growing demands in India as well as accommodating DFPCL's growing captive needs," the company said. The LNG will be delivered to the west coast of India, the company said. Equinor, erstwhile Statoil, is among the established leaders in the oil & gas sector over the last 50 years, with a market cap of USD 75 billion wherein majority ...

Deepak Fertilisers ties up with Norway's Equinor for long-term LNG supply
Updated On : 19 Feb 2024 | 8:53 PM IST

Dhamra LNG terminal expansion on the anvil, says Adani Total CEO

Dhamra LNG terminal, India's newest and only terminal on the Eastern coast will take advantage of the Urja Ganga and Indradhanush gas grids, to service the region

Dhamra LNG terminal expansion on the anvil, says Adani Total CEO
Updated On : 09 Feb 2024 | 11:31 PM IST

Petronet plans to begin supplying LNG to Sri Lanka in 2025 for five years

Petronet will ship 850 metric tons of gas daily to the island nation in 50 containers of 17 tons each, CEO Akshay Kumar Singh said during the India Energy Week event in Goa

Petronet plans to begin supplying LNG to Sri Lanka in 2025 for five years
Updated On : 08 Feb 2024 | 11:56 PM IST

NITI Aayog report bats for incentives to promote LNG as transportation fuel

Government think tank NITI Aayog has pitched for providing fiscal and non-fiscal incentives to promote liquified natural gas (LNG) as a transportation fuel in medium and heavy commercial vehicles. In a report titled LNG as a Transportation Fuel in Medium and Heavy Commercial Vehicle', the Aayog said the government's think-tank suggested setting up a demand aggregator company for buying LNG trucks, similar to Energy Efficiency Services (EESL) in the electric vehicle sector. According to the Aayog, India's rapidly expanding trucking market, which is expected to more than quadruple, from 4 million trucks in 2022 to roughly 17 million trucks by 2050, offers immense scope for lowering emissions and encouraging investments for growth. The Aayog suggested that priority lane access, for LNG vehicles can be provided as non-fiscal incentives to promote LNG. "Major cities and roadways need to be recognised, and such priority lane access can be tested first in major cities and roads," it ...

NITI Aayog report bats for incentives to promote LNG as transportation fuel
Updated On : 07 Feb 2024 | 7:08 PM IST

Petronet signs a new long-term agreement to source LNG from Qatar

An existing deal for another 7.5 MMTPA of LNG from Qatar, signed back in 1999, was also recently extended by the company till 2028

Petronet signs a new long-term agreement to source LNG from Qatar
Updated On : 06 Feb 2024 | 6:36 PM IST

Govt saves $6 bn on Qatar LNG deal renewal, signs $78 bn pact for 20 years

India on Tuesday signed a USD 78 billion deal to extend LNG imports from Qatar by another 20 years till 2048 at rates lower than current prices. Petronet LNG Ltd, India's biggest liquefied natural gas (LNG) importer, in a statement said it has signed a pact with QatarEnergy to extend the deal to buy 7.5 million tonne a year of gas for producing electricity, making fertilizers and converting it into CNG. The deal was signed on the sidelines of India Energy Week (IEW) here. Sources said the renewal is at a "significantly" lower price than the current deal. At current prices, India will save about USD 0.8 per million British thermal unit at the renewed terms. This translates into savings of USD 6 billion over the contract period. Petronet imports 8.5 million tonne per annum (MTPA) of LNG from Qatar under two contracts. The first 25-year deal is to expire in 2028 and has now been extended for 20 additional years. The second deal for 1 MTPA entered into in 2015, will be negotiated ...

Govt saves $6 bn on Qatar LNG deal renewal, signs $78 bn pact for 20 years
Updated On : 06 Feb 2024 | 5:07 PM IST

Decision to limit LNG export threatens national security: US lawmakers

The recent decision to limit the export of US Liquefied Natural Gas (LNG) threatens the country's national security, economy, and clean energy goals, a bipartisan group of nearly two dozen lawmakers told President Joe Biden. With forthcoming European Union sanctions expected to block all Russian gas imports, the importance of offsetting lost supplies will only grow. "Moreover, global demand for natural gas is projected to grow for many years to come, as key allies in Japan, Korea, Southeast Asia, and India continue to grow their economies. Put simply, stability in the West depends on American energy exports, a group of 23 Congressmen wrote in a letter to Biden. In the letter dated February 5, Congresswoman Carol Miller and her fellow Energy Export Caucus co-chairs led a bipartisan letter to Biden to voice their concern on the Administration's decision to limit the export of LNG. The letter highlights how the Department of Energy's proposed plan threatens the United States' national

Decision to limit LNG export threatens national security: US lawmakers
Updated On : 06 Feb 2024 | 8:18 AM IST

Qatar hits major LNG growth market India, to hold talks with Gail, IOC

The Persian Gulf producer will hold high-level talks with Gail India Ltd. and Indian Oil Corp. during India Energy Week in Goa, according to traders with knowledge of the discussions

Qatar hits major LNG growth market India, to hold talks with Gail, IOC
Updated On : 06 Feb 2024 | 6:57 AM IST

Adani Total Gas signs agreement with INOXCVA to strengthen LNG ecosystem

ATGL is authorised in 33 Geographical Areas and plays a significant role in the nation's efforts to enhance the share of natural gas in its energy mix

Adani Total Gas signs agreement with INOXCVA to strengthen LNG ecosystem
Updated On : 05 Feb 2024 | 10:31 PM IST

US allies 'reassured' Biden LNG pause does not affect current exports

The U.S. is the world's top LNG exporter and Pyatt said the shipments will roughly double by the end of the decade as already approved projects ramp up

US allies 'reassured' Biden LNG pause does not affect current exports
Updated On : 05 Feb 2024 | 10:28 PM IST