Lng

India to not buy from Russia's sanctioned LNG 2 project, says oil secy

The Arctic LNG 2 project by Russia's Novatek is subject to Western sanctions over Russia's war with Ukraine

ArcelorMittal's India joint venture seeks duty-free LNG imports: Report

India, the world's second biggest crude steel producer, levies a 2.5 per cent basic customs duty and an additional 0.25 per cent social welfare tax on LNG

India-UAE sign pacts on LNG supply, crude production and nuclear energy

5 MoUs were signed after the meeting of the UAE crown prince with PM Modi in Delhi

Govt plans to use LNG for third of truck fleet, in blow to diesel

India, one of the biggest emitters of greenhouse gases, has set a 2070 net zero goal and wants to raise the share of natural gas in its energy mix to 15 per cent by 2030

IGL wants to be leader in LNG space, says MD Kamal Kishore Chatiwal

Chatiwal talks about strengthening efforts to establish CNG to LNG conversion plants for servicing difficult terrains

With 1 more ship, LNG under new pacts to be imported from 2026: Gail

State-owned gas utility GAIL (India) Ltd will start importing LNG under two new contracts from 2026 and has added one more ship to transport the fuel, its Chairman Sandeep Kumar Gupta said on Wednesday. The company had in January this year signed back-to-back deals to import liquefied natural gas (LNG). It first signed deal to import 1 million tonnes of LNG from Dutch energy trader Vitol for 10 years and then another agreement to buy 0.5 million tonne per annum of LNG from UAE's ADNOC-Gas. "As a leading natural gas player, your company recognises the importance of ensuring supply security. In this direction, we have signed two 10-year LNG supply agreements, starting in 2026: 1 million tonnes from Vitol Asia Pte Ltd, Singapore and 0.5 million tonnes from ADNOC Gas, UAE," he said at the company's annual general meeting. LNG is natural gas, extracted from below the surface, that has been cooled down to liquid form for ease and safety of non-pressurised storage or transport. GAIL will

French imports of Russian LNG surge, Ukraine supporters call for halt

Shipments of Russian liquified natural gas to France more than doubled the first half of this year, according to new analyses of trade data, at a time when Europe has tried to pull back from energy purchases that help finance the Kremlin's invasion of Ukraine. Europe has restricted oil imports from Russia, but natural gas is still allowed. And while companies in France are importing the most, one analysis found EU countries overall imported 7% more Russian LNG, natural gas that has been chilled and liquified for easier ocean transport, in the first half of this year compared to the same period a year ago. Oleh Savytskyi, a founder of nonprofit Razom We Stand, which campaigns for tougher sanctions on Russian fossil fuels, said the EU's goal of phasing out all Russian fossil fuels by 2027 was appallingly off track. He said countries buying Russian LNG are sabotaging the continent's energy transition and contributing billions to Russia's war effort. European governments have said banni

Petronet LNG Q1 results: Net profit jumps 40% to Rs 1,100.76 crore

Petronet LNG Ltd, India's largest liquefied natural gas importer, on Wednesday reported a 40 per cent jump in its first quarter net profit on a rise in gas volumes. Consolidated net profit of Rs 1,100.76 crore in April-June - first quarter of current fiscal - compared with Rs 787.73 crore earning in the same period a year back, according to a stock exchange filing by the company. Revenue from operations rose 15 per cent to Rs 13,415.13 crore.

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

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

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 ...

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

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

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

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

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

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

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

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

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 ...

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