Page 10 - Natural Gas

Weekly storage of natural gas in US increases to 2,063 bn cubic feet: EIA

The total working gas storage rose by 32.6 per cent from this time last year, or up 19.8 per cent above the five-year average

Q4 results: Adani Total Gas logs 21% rise in net profit over CNG sales

The company has pushed for an aggressive expansion of CNG stations at a time when piped natural gas volumes have dropped

Domestic natural gas prices for May notified; no impact on end consumers

Prices capped at $6.5 per MMBtu under new regime based on Kirit Parikh committee recommendations

OIL, AGCL to form joint-venture for piped natural gas distribution

The Assam Gas Company Limited (AGCL) and Oil India Limited (OIL) on Saturday signed an agreement for the establishment of a joint venture company to lay, build and operate city natural gas distribution networks in parts of Assam and Tripura. The agreement was signed between the two sides at a ceremony here in the presence of Assam Chief Minister Himanta Biswa Sarma, an official statement said. The Assam government-owned AGCL will have 51 per cent stake, while the OIL will hold the remaining 49 per cent share in the joint venture company. It will build local natural gas grids and provide piped natural gas to domestic and commercial establishments in Lakhimpur, Dhemaji, Darrang, Udalguri, Sonitpur and Biswanath Chariali in Assam, and a few districts of Tripura. The company will also set up numerous compressed natural gas (CNG) stations, the statement said. Speaking at the event, Sarma said the signing of the agreement between AGCL and OIL would provide a major thrust to the ongoing

Drop the 'natural' in natural gas: Climate activists urge US officials

The Federal Trade Commission has said the Green Guides are based on how consumers reasonably interpret claims, not technical or scientific definitions

Centre sticking to target of 5,000 compressed biogas plants by FY25

Announced in 2018, SATAT scheme has been able to establish only 46 CBG plants until now

Turkey starts delivery of natural gas from Black Sea field to cut imports

Turkey has started the delivery of natural gas from its Black Sea field, as part of its flagship project aiming at reducing the country's dependence on energy imports.

Natural gas faces hurdle at Rs 195; can rally up to 33% thereafter

In case, the MCX Natural Gas futures manages to conquer the Rs 195 hurdle, a sharp rally towards Rs 260 - 300 seems likely.

Iran may consider extension of natural gas pipeline from Oman to India

Iran may consider an extension of the sub-sea natural gas pipeline from Oman to India, its Deputy Foreign Minister for Economic Relation Mehdi Safari said in a statement on Friday. "Already, Iran is building this natural gas pipeline to Oman, which can be extended to India up to Porbandhar," Safari said while speaking at an interactive meeting organised by MVIRDC World Trade Center Mumbai on Thursday evening, it added. The deputy foreign minister was in Mumbai to promote the 'Iran Expo 2023' to be held from May 7-10 this year in Tehran and explore trade and investment collaborations across 11 major categories, MVIRDC World Trade Center Mumbai said in the release. Despite economic sanctions, India is among the top five trade partners of Iran, and both countries are strategic partners, the statement quoted the deputy foreign minister as saying. "Our export to India has grown 60 per cent in 2022, and in the last two months, it has grown 90 per cent. This implies diversification of tra

NSE to introduce WTI crude oil, natural gas futures contracts from May 15

National Stock Exchange (NSE) on Friday said it will launch futures contracts on underlying WTI crude oil and natural gas in the commodity derivatives segment from May 15. This comes after the exchange, last month, received approval from markets regulator Sebi to launch the rupee-denominated Nymex WTI crude oil and natural gas futures contracts in its commodity derivatives segment. These contracts will expand NSE's product offering in the energy basket and its overall commodity segment. Experts believe that these contracts would provide the market participants with an efficient avenue to hedge their price risk. "Futures contracts on underlying WTI crude oil and natural gas (Henry Hub) would be available for trading in commodity derivatives segment with effect from May 15, 2023," NSE said in a circular. In February, NSE signed a data licensing agreement with CME Group. The pact allows the bourse to list, trade and settle rupee-denominated WTI crude oil and natural gas derivatives .

Revised gas pricing formula to aid profit stability for producers: Fitch

The government's decision to limit prices of domestic natural gas from legacy fields to between USD 4-6.5 per million British Thermal Unit (mmbtu) will support margins for city gas distributors, encourage the use of gas, and reduce cash flow volatility for upstream producers, Fitch Ratings said on Wednesday. "We expect a partial pass-through of the lower administered price mechanism (APM) gas prices, at which domestic upstream producers supply gas to city gas distributors, in the prices of compressed natural gas (CNG) and domestic piped natural gas (PNG) to add to the distributors' margins in the near term," it said in a statement. City gas retailers like Indraprastha Gas Ltd and Adani Total Gas Ltd last weekend announced Rs 6-8 cut in CNG and PNG prices, reflecting the cut in input gas prices. The APM price under the new regime was calculated at USD 7.92, but is capped at USD 6.5 for the rest of April, 24 per cent below levels in October 2022-March 2023. "We expect such price cuts

Adani Gas reduces prices of CNG by Rs 8.13/kg, PNG by Rs 5.06/scm

ATGL also announced a reduction in PNG prices for Industrial and Commercial Consumers by Rs 3.0 per scm its geographical areas (GAs)

Govt imposes gas price caps: Here is how the prices of PNG, CNG will change

With these changes, the data of Indian crude basket price from the previous month would form the basis for APM gas price determination

Gas sector confident of smooth transition as it awaits new pricing rules

Officials said existing APM gas prices have been left broadly unchanged till Sept 31 as a temporary arrangement

Getting out of fossils

Unless finances are proportionate to the need, the transition to clean energy is a tough proposition, especially in countries where energy affordability is critical

Core sector output slows to 3-month low of 6% in Feb, crude production dips

Six of eight key infrastructure industries report sequential deceleration

PM Modi calls uniform tariff for gas pipeline as noteworthy reform

PNGRB on March 29 had approved levelised unified tariff for natural gas pipeline of Rs 73.93 per metric million British thermal unit

Cabinet to impose price caps on gas to stave off rising rates to $10.7

The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said. The government bi-annually fixes prices of locally produced natural gas -- which is converted into CNG for use in automobiles, piped to household kitchens for cooking and used to generate electricity and make fertilisers. Two different formulas govern rates paid for gas produced from legacy or old fields of national oil companies like Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), and that for newer fields lying in difficult to tap areas such as deepsea. The global spurt in energy prices post Russia's invasion of Ukraine have led to rates of locally produced gas climbing to record levels - USD 8.57 per million British thermal unit for gas from legacy or old fields and USD 12.46 per mmBtu for gas from difficult fields. These rates are due to

The Parikh committee's logic for proposed gas policy

In a competitive market, it is the consumer price that should be equalled to the cost of imported gas

MCX Crude Oil may break Rs 5,000-mark; Natural Gas remains weak

The MCX Crude Oil futures seem on course to test the 200-WMA placed at Rs 5,000. However, given the indications from momentum oscillators, the commodity may break the support level.