LNG Rate

Purchases slowed as elevated spot prices made LNG less competitive against alternative fuels, while monsoon rains brought cooler weather and reduced power demand

The South Asian nation wants to raise the share of gas in its energy mix to 15 per cent by 2030 from about 6 per cent at present to cut its carbon footprint

On the bourses, GAIL share price rallied as much as 7.03 per cent to hit an intraday high of Rs 178.75 apiece

There will also be delays in the upcoming LNG supply projects across the Americas, so Europe and Asia will have access to less LNG next year than originally expected, analyst at Goldman Sachs said

Mahanagar Gas, the city utility arm of Gail India, on Friday announced a joint venture with Baidyanath LNG, the first domestic firm to set up LNG retailing outlets, to form Mahanagar LNG. The joint venture will focus on developing LNG infrastructure to cater to the increasing demand for clean and sustainable energy solutions for the long-haul and close-loop transportation segments, MGL said in a statement. The joint venture aims to set up six LNG stations in Maharashtra in the first phase and subsequently expand its footprint across the country, said MGL managing director Ashu Shinghal, who will also be the chairman of the new entity. GJPN Murthy, the chief executive of the JV company, said the new entity will help develop an LNG ecosystem in the country and assist the long-haul automotive and logistics industry in the adoption of cleaner fuel. Mahanagar Gas is one of the largest city gas distributors. It has over 27 years of experience in supplying natural gas in Mumbai and is ..

Till date gas consumption in FY24 is up 15 per cent YoY after three years of declines

Officials said the agreement represents a reworking of India's gas sourcing strategy as the country aims to aggressively source LNG from a wider list of nations

Tightening Russian gas supplies to Europe has led to scramble for tankers before winter sets in

GAIL has come under pressure since it is not receiving contracted liquefied natural gas (LNG) cargoes and it is being forced to buy LNG at much higher prices

As global prices soar, another committee to review gas pricing policies may find the going more challenging

The two firms have, however, hired capacity in Adani's under-construction LNG import terminal at Dhamra.

After successfully renegotiating with Qatar and Australia, India is now working on third and fourth contract