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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

India's natural gas demand to rise 4% in 2023: International Energy Agency

Global natural gas demand growth to slow to 1.6 % till 2026, down from 2.5%

Israel-Hamas conflict: Cloud over India-Middle East corridor project

The project was also believed to be one of the icebreakers in the relationship between the Kingdom of Saudi Arabia and Israel

GreenLine will invest Rs 200 cr for deploying LNG trucks for Hindustan Zinc

Hindustan Zinc Ltd has signed a deal to deploy GreenLine Mobility Solution Ltd's LNG-powered fleet in its supply chain and transportation operations, India's first and the only LNG-fuelled heavy trucking logistics company said on Wednesday. In a statement, GreenLine said it will invest Rs 200 crore for deploying LNG-powered trucks for Hindustan Zinc's road logistics. "Hindustan Zinc, India's largest and only integrated producer of zinc, lead and silver, has chosen GreenLine Mobility Solutions Ltd (GreenLine), a part of Essar Group and a pioneer in green mobility solutions, as its sustainable logistics partner and is set to deploy GreenLine's LNG-powered fleet in its supply chain and transportation operations," it said. LNG-powered vehicles significantly reduce emissions compared to diesel and align perfectly with the sustainability goals of both organizations. This initiative will not only reduce the carbon footprint associated with transportation but also set new industry standards

City gas distributors optimistic about long-term growth prospects

The government is looking to push up the share of natural gas to around 15 per cent in the energy mix from the current 6 per cent

Consensus at Gastech conference on developing solutions to cut carbon

Senior ministers, business leaders, and global climate specialists have reached a consensus on developing new solutions to reduce carbon emissions and accelerate climate technologies at an ongoing conference and exhibition here. The Gastech 2023 conference featured a line-up of more than 600 speakers during the four-day event from September 5-8 in the city-state. It is the largest meeting place for the global natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies industries and saw 40,000 registered visitors, according to Gastech's website. Recognising that climate technology is a critical component of the world's decarbonisation efforts, Gastech's latest edition was expanded to include a dedicated Climatetech exhibition and conference programme. It brought together established energy players, policy analysts, investors, and Big Tech. "On the third day of Gastech 2023, senior ministers, business leaders, and global climate specialists reached a consensus on the

GAIL to tap spot LNG markets to meet increased demand of electricity

"We have been servicing the demand for the last one month also. Demand is already there," he said

LNG supply disruption could cause major price volatility: Wood Mackenzie

Asian liquefied natural gas (LNG) buyers are navigating a near-term market that is so finely balanced that any supply disruptions or demand upsides could cause significant price volatility, according to Mangesh Dilip Patankar, Vice President, APAC Gas and LNG Consulting at Wood Mackenzie. Speaking on the sidelines of the Gastech 2023 conference being held during September 5-8 in Singapore, Patankar said that the LNG market is at a critical juncture and the uncertain outlook has affected pricing and contract terms significantly and widened the gap between buyer and seller aspirations. "Many LNG buyers face the challenge of ensuring LNG supply security, while keeping their procurement costs competitive and contractual terms flexible," Patankar said on Tuesday. "Simultaneously, the terms in LNG SPAs (sale and purchase agreements) are also evolving as LNG trading increases." According to Wood Mackenzie Lens, Australia and Qatar will be biggest suppliers of LNG to Asia throughout 2023-20

Blue Energy Motors bags contract from CONCOR for 100 LNG-powered trucks

Green fuel truck maker Blue Energy Motors said on Tuesday it has bagged a contract from the Container Corporation of India Ltd (CONCOR) for the supply of 100 LNG-powered trucks. A Navratna PSU and leading containerized multimodal logistics services firm CONCOR plans to deploy the LNG-powered fleet of trucks at its strategic hubs to facilitate containers' first and last-mile movement, Blue Energy said in a statement. Green transportation is a part of the CONCOR's commitment to sustainability and decarbonization of its operations, as per the statement. This partnership reflects the growing importance of sustainable logistics in India and represents CONCOR's commitment to cut hazardous emissions by aligning itself with the government's larger climate change goals, it said. "This is a significant step towards providing momentum to India's green trucking revolution with our LNG-powered heavy-duty long-haul trucks. These trucks will help CONCOR establish a more sustainable and ...