Page 16 - Natural Gas

Russia-Ukraine crisis jolts Europe to push for secure energy supply

Surging energy prices and fears of a Russian invasion of Ukraine are making European leaders think hard about energy security particularly their decades-old reliance on Moscow for natural gas.

GAIL to connect Srinagar to gas grid; Mumbai-Nagpur line by May 2023

GAIL will by May 2023 complete a 700-km pipeline from Mumbai to Nagpur, enabling the flow of gas to central India

Russia-Ukraine conflict could reshape Europe's natural gas reliance

Europe relies on Russia's natural gas to help heat millions of homes, generate electricity and power factories

GAIL reports highest quarterly net profit on natural gas price jump

While natural gas transmission volumes and profitability remained almost unchanged, the firm saw its profitability from the marketing of the fuel jump to Rs 1,749.71 crore in Q3

Bring natural gas under GST for PM's vision of gas-based economy: Industry

Natural gas is currently outside the ambit of GST, and existing legacy taxes

Bring natural gas under GST for PM's vision of gas-based economy: Industry

Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel.

Govt invites bids to set up sales network for natural gas supply

India, the world's third biggest emitter of greenhouse gases, has set a 2070 goal for net zero carbon emissions.

Global natural gas shortage worsens as India, Indonesia join the hunt

Indian Oil Corp. and Gujarat State Petroleum Corp. have recently bought spot cargoes of liquefied natural gas after being absent from the market for months, according to traders

Natural gas shortage leads to Pakistan losing 20% of vital textile exports

About $250 million of textiles exports were lost last month after mills in Punjab were forced to shut for 15 days, said Shahid Sattar, executive director of All Pakistan Textile Mills Association

Russia's Nord Stream 2 pipeline ready to pump gas to Europe

Russia's Nord Stream 2 natural gas pipeline is ready for operation amid an energy crunch in Europe, Alexei Miller, the CEO of Russia's gas industry giant Gazprom, reported to President Putin

Indian Oil Corp acquires 5% stake in IEX subsidiary Indian Gas Exchange

IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX

NYC to ban natural gas in new buildings in a bid to shift to clean energy

The New York City Council is expected to vote to ban natural gas in new buildings, following in the footsteps of dozens of other smaller US cities seeking to shift to cleaner forms of energy.

Surging prices threaten to scupper India's coming-of-age gas party

Domestic gas prices are much lower than LNG rates as they are controlled by the government

Petronet net profit falls 11% in Q2 to Rs 823 cr; revenue jumps 70%

Petronet said its board declared a special interim dividend of Rs 7 per equity share for fiscal 2021-22

Around 7 bcm of LNG reserves likely to rein in fuel price volatility

Estimate based on similar proportion of reserves in developed countries

GAIL's Q2 net up 168% to Rs 2,873 cr on strong show across segments

Total income up 56% to Rs 22,056.21 crore

New Asian gas projects create $379 bn stranded asset risk: Report

A planned $379 billion expansion of gas infrastructure in Asia risks becoming stranded assets

RIL to press KG-Basin for higher revenues after govt hikes gas price

The KG-D6 asset is enlisted under the Deepwater, Ultra Deepwater, and High Pressure-High Temperature area (collectively called difficult discoveries) category

Saudi Arabia to use $110 billion natural gas field for blue hydrogen

A large portion of gas from the $110 billion Jafurah development will be used for blue hydrogen, according to Energy Minister Abdulaziz bin Salman

India to bargain undelivered cargoes for renewing LNG contract with Qatar

India will bargain for supply of undelivered gas quantities of past years