Page 12 - Natural Gas

The gas-coal riddle

Former coal secretary Anil Kumar Jain's book makes a strong case for using coal until renewable energy becomes ubiquitous in India

TotalEnergies walks away from stake in Russian gas producer Novatek

French energy giant TotalEnergies said Friday that it will walk away from its stake in Russian natural gas producer Novatek and take a $3.7 billion loss. TotalEnergies, which has come under criticism for pursuing some of its projects in Russia amid the war in Ukraine, said Western sanctions prevent it from selling its 19.4% stake to the Russian company. It said it was withdrawing its representatives from the Novatek board, who have been abstaining from voting because of sanctions, with immediate effect." As a result, TotalEnergies will no longer account for its ownership interest in Novatek, which will lead it to record an impairment of approximately $3.7 billion in the accounts for the 4th quarter of 2022," the French company said in a statement. In line with its principles of conduct published on March 22, TotalEnergies has gradually started to withdraw from its Russian assets while ensuring that it continues to supply gas to Europe. It comes amid an energy crisis in Europe provo

How will the Kirit Parikh panel-gas reforms impact related companies?

A govt-appointed panel of Kirit Parikh has recommended doing away with the norms where prices of natural gas are fixed in tandem with world markets. How will the reforms affect companies in the sector

Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'

The committee has also recommended a ceiling price of $6.5 per mmBtu, which may be increased yearly by about $0.5 per mmBtu till 2027, Parikh said

Core sector output growth slows to 20-month low of 0.1% in October

Output accelerated by only 0.1% in October; 4 of 8 core industries reported production contraction

India's gas target of 15% was only aspirational. Time to give it up?

While several bankers and analysts have projected the difficulty of reaching this number, it is important to figure out where the target of 15 per cent came from

India to receive first cargo from Indonesia's Tangguh LNG plant today

India will receive its first cargo from Indonesia's Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a Refinitiv analyst and Refinitiv ship tracking data

Nigeria drills for oil in new field as theft and extremism erode earnings

Nigeria on Tuesday began drilling oil and natural gas in the country's northern region, anticipating a boost to the nation's finances even as the new energy supplies face the threat from theft and extremist activity. President Muhammadu Buhari flagged off the drilling within Kolmani oil field in northeast Gombe and Bauchi states, making it the first area where oil is being drilled outside the southern Niger Delta region. It has a reserve of up to 1 billion barrels of crude. The drilling began nearly three years after Nigeria announced the discovery of oil in commercial volume in the region, which is embroiled in a decadelong war against Islamic extremists. Analysts have raised questions about security measures to protect energy facilities there, while there are environmental concerns about tapping into more climate-changing fossil fuels. Crude oil has been critical in expanding infrastructure in the West African nation, accounting for 41% of total federal government revenue in 2021

China signs one of its biggest ever LNG deal with Qatar at $60 billion

Qatar Energy will send Sinopec 4 million tons of LNG a year starting in 2026, the state-controlled companies announced in a virtual ceremony on Monday

Cut I-T, review capital gains tax in Budget 2023-24: CII to govt

FM Nirmala Sitharaman's pre-Budget consultations from today

Mineral production increases by 4.6% during September: Ministry of Mines

The index of mineral production of mining and quarrying sector in September 2022 at 99.5 was 4.6% higher as compared to the level in March 2021

Petronet Q2 net profit falls 4% to Rs 785 cr as natural gas volumes drop

Petronet LNG Ltd on Thursday reported a 4 per cent fall in its September quarter net profit as volumes dropped on a spurt in global natural gas prices. Consolidated net profit stood at Rs 785.73 crore in July-September as against Rs 817.61 crore a year back, according to a company's stock exchange filing. Petronet chief executive officer Akshay Kumar Singh during a conference call said global energy rates spurred after the Ukraine war, but rates have begun to soften in the last 10-15 days. The rise in spot or current market liquefied natural gas (LNG) prices led to volume drop as users couldn't afford higher rates. Petronet is India's largest LNG importer and the gas it imports is supplied to fertilizer plants and other industries for use. Its flagship Dahej terminal in Gujarat processed 182 trillion British thermal units (TBTUs) of LNG during July-September as against 196 TBTU during the previous quarter ended June 30 and 225 TBTU during the corresponding quarter ended September

India's gas reliance grows as Europe cuts down on energy consumption

India's demand for the fuel has slumped 5 per cent in the April-September period of FY23 to 31.5 billion cubic metres from a year ago, after rising 5 per cent 2021-22

Europe's energy crunch will trigger years of shortages and blackouts

Energy security concerns in Europe are driving energy poverty in the emerging world," said Saul Kavonic, an energy analyst at Credit Suisse Group AG

What is coal gasification and why is India investing in it heavily?

On Novemebr 3, Union Finance Minister Nirmala Sitharaman launched the biggest ever coal mine auction of 141 mines in India

BP rakes in quarterly net profit of $8.2 billion after price surge

The firm more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion

Emergency bid: GAIL inks agreement with ADNOC to secure LNG supply

Officials said the agreement represents a reworking of India's gas sourcing strategy as the country aims to aggressively source LNG from a wider list of nations

High natural gas prices spur demand for dual-fuel tankers: Executive

Even as LNG is seen as a key transitionary fuel for bunkering, soaring prices of the super-chilled fuel have led to higher demand for ships with dual-fuel tankers, said an industry executive

Fuel demand to far outstrip supply until 2025: Natural gas exporters

The leader of the coalition of gas-exporting countries said on Tuesday the group expects demand for the fuel to far outstrip supply until 2025 amid a global energy crisis sparked by the war in Ukraine. Secretary General of the Gas Exporting Countries Forum Mohamed Hamel, of Algeria, said at the group's meeting in Cairo that although investment was increasing in natural gas production the countries didn't expect to have new sources of supply online for another three years. We believe that this market tightness to be with us until probably 2025 or 2026 when the new projects that are being developed will come on-stream, he said in a press conference on Tuesday attended by energy ministers from some of the coalition's members. Natural gas prices have skyrocketed worldwide following the Russian invasion of Ukraine early this year. Amid sanctions imposed on Russia's energy sector, much of European Union, which formerly depended on Russia for 40 per cent of its supply, has struggled find .

Energy stockpiling in overdrive soothes worries of winter shortfall

Europe's natural gas storage sites are about 92% full, above the the five-year average of 87.6%. Germany has hit 95%, a level it aimed to reach by Nov. 1