Page 5 - Lng

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

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 ...

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

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

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

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

India proposes supplying LNG to our power facilities: Sri Lanka's minister

'In the efforts to expedite the process to generate power from LNG the Government of India has proposed an interim solution from Petronet LNG,' Energy Minister Kanchana Wijesekera said

No immediate impact of US decision to pause LNG export permits: Officials

Officials however said major LNG routes into India do not cross the main maritime area affe ted Houthi strikes in and around the Red Sea and Gulf of Aden

Petronet LNG Q3FY24 results: Net profit rises 1.2% to Rs 1,191 crore

Higher operational efficiency and capacity utilization at Petronet's Dahej LNG terminal drives profit

Gail signs LNG import deal with UAE firm to buy 0.5 million tonne per annum

India's biggest gas firm GAIL on Monday said it has signed an agreement to buy 0.5 million tonne per annum of LNG from UAE's ADNOC-Gas, the second supply deal it has stitched this month as part of shoring up supplies to meet energy demands of the country. "This is pursuant to an MoU dated October 30, 2022, between GAIL and Abu Dhabi National Oil Company (ADNOC)" wherein the two had addressed to "explore opportunities, including the purchase of LNG by GAIL from ADNOC for a tenure ranging from short term to medium and long-term", the company said in a statement. Under this agreement, the deliveries will commence from 2026 onwards for a duration of 10 years, across India. It did not disclose pricing and other details. "This arrangement is believed to further aid in India's rising energy security requirements and, simultaneously, also fuel GAIL's strategic growth objectives to cater to its downstream customers in the rapidly evolving natural gas landscape of the country," it said. On

Gail India's Mahanagar Gas forms LNG joint venture with Baidyanath

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 ..

Gail signs deal with Vitol to secure 1 mn MT of LNG annually for 10 years

The deal is significant as it is the first of a series of agreements being pursued by Gail to diversify its imports beyond Qatar, aiming to avoid disruption in supplies

GAIL, Vital Asia sign long-term LNG deal to supply 1 mmt annually to India

The partnership will consolidate demand for natural gas in India over a period of 10 years, beginning in 2026

China aims to build more than half of world's cleaner-fuel ships by 2025

It did not give any estimates of the number of ships involved but said China would build more vessels powered by lower-carbon fuels as part of Beijing's push to become carbon neutral by 2060

IGX seeks approval for trading of trucked LNG, multi month contracts

Domestic gas consumption has risen 13 percent in first 10-months of 2023

Asia-Europe LNG spread at widest level in almost two years: S&P Global

The spread between the Japan Korea Market, used as an Asian benchmark, and the Title Transfer Facility, the European gas benchmark, was assessed at $2.79 per million British thermal units on Wed

Proposed 5% biogas blending with LNG can cut imports worth $1.17 bn: IBA

The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government's recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme. The biogas blending is proposed to be further increased to 5 per cent by fiscal year 202829. According to the study, this blending initiative gels well with the government's macro-level move to make India a gas-based economy, with a target to increase the current share of gas in the energy mix from 6 per cent currently to 15 per cent by 2030. The IBA estimates show that 5 per cent blending of biogas with natural gas can reduce LNG imports worth USD 1.17 billion. This can also bring down per capita CO2 emissions by two per cent, benchmarked to the 2019 figure, which

CONCOR ties up Indraprastha Gas to explore possibility of LNG infra

Railway PSU Container Corporation of India Ltd has signed an agreement with Indraprastha Gas Ltd to explore the possibility of setting up LNG or LCNG infrastructure at its terminals in Uttar Pradesh and Gujarat. This strategic partnership aims to revolutionise the logistics sector replacing diesel with natural gas, the Container Corporation of India Ltd (CONCOR) said in a statement. "CONCOR and IGL have signed a memorandum of understanding (MoU) to explore the possibility of setting up LNG/LCNG infrastructure within the premise of CONCOR terminals. Initially, both LNG and LCNG facilities shall be installed at Dadri (Gautam Budh Nagar) terminal of CONCOR," the statement said. CONCOR and IGL also agree to explore the possibility of transportation of LNG in future through railway rakes from LNG terminals near sea ports like Dahej in Gujarat to the desired locations within India. The MoU signifies the commitment of both CONCOR and IGL to reduce carbon emissions and promote a cleaner, .

Gail does world's first ship-to-ship LNG transfer, cuts CO2 emissions

India's top gas firm GAIL has done the world's first ship-to-ship liquefied natural gas (LNG) transfer to save on shipping costs and cut emissions as the state-owned entity looks at innovative ways as a pivot to boost business, company officials said. GAIL has contracted 5.8 million tonnes per annum of LNG (natural gas super-cooled to liquid form) from the US. The company brings this volume to India via LNG ships. The ship typically travels a distance of about 19,554 nautical miles for a round trip to transport LNG from Sabine Pass in the US to India via the Suez Canal and Gibraltar. This journey takes approximately 54 days and emits about 15,600 tonnes of CO2. Emissions are generally controlled using the latest technology or changing the destination of the cargo. However, GAIL's innovative contractual arrangement that results in vessels following an optimised path has resulted in a significant reduction in CO2 emission. Recently, the company-hired vessel Castillo De Santisteban mov

Hope diplomatic row with Qatar will not hurt LNG import deals: Petronet CEO

The government in New Delhi said last week it was "deeply shocked" by a decision by a Qatar court to impose the death penalty on eight Indians arrested in the country last year