LNG Deal

QatarEnergy said in a statement that the agreement includes supplying Cairo with up to 24 liquefied natural gas cargoes for the upcoming summer

A 53-month-long force majeure at Mozambique's giant LNG project, where Indian firms hold a 30 per cent stake, has ended, enabling the start of work at the USD 21 billion project, ONGC Videsh Ltd said on Wednesday. Operator and French energy giant TotalEnergies and its partners lifted the force majeure on the project in Mozambique, which had been in place since mid-2021 due to deteriorating security in the northern Cabo Delgado Province of the African nation. TotalEnergies last week said the LNG deliveries can start by 2029. "Security situation in Cabo Delgado Province (CDP), north of Mozambique, Area 1 Mozambique LNG Project has significantly improved, and Area 1 Mozambique LNG consortium has accordingly notified the Government of Mozambique to end the Force Majeure which was declared on May 11, 2021," OVL said in a statement. "Withdrawal of the force majeure enables construction activities to restart for early completion of the project." ONGC Videsh Ltd, the overseas investment ar

The latest agreement follows another long-term LNG supply deal between QatarEnergy and GSPC, inked in 2019

Pipeline Infrastructure Ltd (PIL) and Crown LNG Holdings Ltd have signed a Memorandum of Understanding (MoU) to establish pipeline connectivity between Crown LNG's proposed terminal and PIL's existing pipeline network in Kakinada, Andhra Pradesh. The MoU was signed on July 10 by PIL Managing Director Akhil Mehrotra and Crown LNG Holdings Ltd CEO Swapan Kataria, official sources said. The MoU is for establishing connectivity between Crown LNG's proposed 7.2 million tonnes a year Gravity-based Structure and Regasification Unit (GBSRU) at Kakinada and the PIL pipeline, subject to satisfaction of various terms and conditions. PIL is a special-purpose vehicle owned by Energy Infrastructure Trust (InvIT), that owns and operates a nearly 1,400-km pipeline from Kakinada to Baruch in Gujarat. This pipeline is used by companies like Reliance Industries Ltd for transporting natural gas produced from offshore fields to users. With the latest MoU, the pipeline would also be used by Crown LNG fo

State-owned GAIL (India) Ltd has signed a gas sales and purchase agreement (GSPA) to buy 1 million tonnes of liquefied natural gas (LNG) from Vitol Asia Pte Ltd for 10 years starting 2026. The GSPA follows a binding term sheet signed in January 2024, GAIL said in a statement. "Under the agreement, Vitol will deliver LNG to GAIL from its global LNG portfolio," it said. Speaking on the occasion, GAIL Director (Marketing) Sanjay Kumar said the company is expanding its long-term LNG portfolio to meet demand growth. "We are pleased to partner with Vitol Asia Pte Ltd, and this agreement represents a key milestone in reinforcing GAIL's capability to reliably serve its diverse and evolving customer base." Jay Ng, Chief Financial Officer, Vitol Asia and Executive Committee member, said the growing Indian market is core to Vitol's strategy and its diversified portfolio enables it to offer India a stable supply of cleaner and competitive energy. India emerged as the world's fourth-largest LN

Supplies under the deal would begin from the second half of this year, he said, adding that the price of the LNG is linked to the US Henry Hub benchmark

The deal with the Indian state-owned firm was announced on the sidelines of India Energy Week, and amounts to six LNG cargoes per year destined for mostly industrial customers

Asia is on track to import 23.18 million metric tons of LNG in June, down a touch from May's 23.55 million

Other oil majors Shell, BP and Total Energies are also expected to invest, the report said

TotalEnergies, which owns 5.54% of Oman LNG, will be supplied by the company for 10 years from 2025, they said in separate statements

Australia's largest LNG exporter said production from its Bass Strait project in Victoria and Pyrenees and Pluto LNG projects in Western Australia fell in the first quarter

The conclusion of this accord is generally seen as a significant coup for China, which managed to beat other EU countries - like Germany - in the race to secure natural gas

Qatar Energy will send Sinopec 4 million tons of LNG a year starting in 2026, the state-controlled companies announced in a virtual ceremony on Monday

Petronet had in February sought bids from suppliers for 1 million tones of LNG per year for 10 years, starting 2024

Under the deal, India is to get a share in natural gas from the proposed Driftwood project in Louisiana

From 37.5 mtpa, India to expand its capacity to 74 mtpa in a decade

Based on industry estimates, this LNG could cost upwards of $5 per million metric British thermal unit (mmBtu).

Natural gas currently accounts for about 8% of India's overall energy mix