Page 11 - Natural Gas

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.

OilMin accepts all major Kirit Parikh panel recommendations on gas pricing

Final cabinet note being prepared, but Finance Ministry yet to submit comments on key issues

In line with new govt rules, Reliance re-auctions gas from its KG-D6 block

Reliance Industries Ltd and its partner bp plc have re-launched an auction for sale of natural gas from their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies. Reliance and its partner BP Exploration (Alpha) Ltd (BPEAL) will sell 6 million standard cubic meters per day of gas in an e-auction planned for April 3, a tender notice said. The price is indexed to the global LNG marker, JKM but will be subject to the government-notified ceiling price. The partners had originally planned the auction in January but days before that the Ministry of Petroleum and Natural Gas, on January 13, published new rules for the sale and resale of gas produced from discoveries in deep sea, ultra-deep water and high-pressure-high temperature areas. This led to the auction being suspended and is now being re-launched after incorporating changes. Gas produced from wells drilled below seabed is used to .

Coal vs gas, or coal and gas?

Coal is bad, and so is natural gas, when it comes to climate change. Then why is it that the Western world, which has to date built its economy on dirty coal, is now wedded to gas as its dream fuel?

MCX Crude Oil remains range-bound; bias can turn positive above Rs 6,465

On the flip side, in case, Crude Oil futures break the support at the lower-end the commodity could dip below the Rs 6,000 mark.

ONGC Videsh to increase spending by 65% in FY24 to push overseas operations

Latin America, Africa, and Russia are expected to play key roles in helping OVL achieve its long-term production targets