Page 5 - Natural Gas

Petronet LNG Q3FY25 results: Net profit rises 25.6% to Rs 901 crore

Petronet to supply 150 ISO containers of natural gas to Sri Lankan port

'India's gain lies in Donald Trump's peace deals in Gaza, Ukraine'

The expansion in US LNG capacity could lead to a global oversupply by the decade's end, potentially lowering prices

Europe threatens to trigger a global scramble for natural gas supplies

While Europe has enough gas reserves to get through this winter and prices have eased since the start of the year, inventories are being eroded by cold weather

Indian Gas Exchange seeks approval to launch 3-6 month gas contracts

The Indian Gas Exchange (IGX) has sought regulatory approvals to launch 3-6 month gas contracts benchmarked to international gas prices, its chief executive Rajesh Kumar Mediratta said. IGX currently allows gas suppliers to sell the fuel on the exchange for durations ranging from daily, weekly, fortnightly and monthly. It also offers intraday trading at a fixed price. Mediratta said the exchange has applied to the regulator, Petroleum and Natural Gas Regulatory Board (PNGRB), for permission to launch three-month and six-month delivery contracts indexed to gas benchmarks such as FIXI and Platts JKM, WIM and Dated Brent. "We are awaiting a clearance from PNGRB," he said. The new long-duration contracts will have a payment cycle of a fortnight compared to the current system of payments being made in 2-3 days after delivery. Also, IGX is looking to introduce green certificates for trading, he said, as the government looks to make the usage of 1 per cent compressed biogas (CBG) mandato

IGX hopeful of receiving regulatory approval for multi-month contracts: CEO

MoU inked with Central European Gas Hub for collaboration in trading of natural gas, hydrogen, and biomethane

Govt cuts natural gas quota for LPG production, diverts to city retailers

The government has slashed allocation of natural gas used for LPG production, and diverted the low-priced fuel to city gas retailers like Indraprastha Gas Ltd and Adani-Total Gas Ltd to meet a part of their requirement for CNG/piped cooking gas supplies, according an official order. The government had in October and November last year cut supplies of low-priced natural gas coming from old fields such as Mumbai High and Bassein fields in the Bay of Bengal, to city gas retailers by as much as 40 per cent in view of limited output. This led to city gas retailers hiking CNG prices by Rs 2-3 per kg and threatening more increases as they replaced lost volumes with higher-priced input fuel. The price hike made CNG less attractive when compared to alternate fuels like diesel. To resolve this, the Ministry of Petroleum and Natural Gas in a December 31 order rejigged some allocations of gas produced from below ground and undersea. The ministry ordered a cut in gas supplied to state-owned GAI

Asian LNG prices set to increase after Russia-Ukraine transit ends

Ukraine hopes increased supply of gas from the US and other producers to Europe will make prices more comfortable

Europe's Russian gas era comes to an end as Ukraine transit stops

Russia's oldest gas export route to Europe - a pipeline dating back to Soviet days - was set to shut at the end of 2024, as a five-year transit deal between Russia and Ukraine expires

What happens if Russian gas transit to Europe via Ukraine is turned off?

Putin said that day that it was clear there would be no new deal with Kyiv to send Russian gas through Ukraine to Europe

Iran's regime in 'dire straits' as it faces energy crisis due to sanctions

Industries are forced to shut down due to the grim situation

High costs, boiloff issues challenge India's LNG trucking expansion

It has been 17 months since Indian Oil's Sriperumbudur outlet began operations but it receives no more than five to 20 trucks a day, for sales of around 80 tonnes of LNG a month

Venture Global's Plaquemines plant to produce first LNG in few days

Having sales contracts in place for the LNG plant aided Venture Global's financing efforts for the new facility

Key infra sectors' growth drops to 3.1% in Oct from 12.7% last year

The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP) which measures overall industrial growth

Blackstone to buy stakes in natgas producer EQT's pipelines for $3.5 bn

The Pittsburgh-based company had a net debt $13.6 billion as of Sept. 30. EQT said in July it planned to cut its debt load by $5 billion through cash it generated from operations and asset sales

Vedanta Aluminium inks pact with Gail for natural gas supply at Odisha unit

Vedanta Aluminium on Wednesday said it has entered into a pact with state-owned gas utility GAIL (India) Ltd for supply of natural gas to its smelter at Jharsuguda in Odisha. The country's leading aluminium producer has entered into gas sales agreement with GAIL Gas Ltd, a subsidiary of GAIL (India) Ltd. This transition to natural gas, likely to be operational by the end of next year, will lower the carbon footprint, reduce emissions by an estimated 47,292 tonnes of CO2 equivalent annually, Vedanta Aluminium said in a statement. Vedanta is committed to achieving net zero emissions by 2050, by implementing a dual strategy that includes increasing renewable energy usage while also creating carbon sinks through afforestation efforts, it said. "Our partnership with GAIL Gas Ltd is a testament to our commitment to reducing carbon emissions and embracing cleaner energy solutions," Priya Agarwal Hebbar, Non-executive Director at Vedanta and Chairperson of Hindustan Zinc Ltd, said. GAIL G

CNG retailers want price hike, government wants to see cost breakup

City gas companies like Indraprastha Gas Ltd and Adani Total Gas Ltd are mulling an increase in CNG prices after supplies of cheaper input gas was cut for the second time in a month, but the government officials say the retailers must give a cost breakup to justify the hike. The government, with effect from November 16, cut supplies of low-priced natural gas coming from old fields to city gas retailers by up to 20 per cent. This reduction came on the back of a 21 per cent reduction on October 16. City gas retailers IGL, which retails CNG in national capital and adjoining cities, Mahanagar Gas Ltd that does the same in Mumbai, and Adani Total Gas Ltd which operates in Gujarat and elsewhere, in regulatory filings flagged profitability concerns due to supply cut and hinted at price hike. Officials in the ministry of petroleum and natural gas however are unimpressed as they feel the retailers operate on "hefty" margins and can easily absorb the additional cost they may have to incur on

Gazprom stops natural gas flow to Austria on payments issue: OMV utility

Russia's state-owned natural gas company Gazprom stopped supplies to Austria early Saturday, according to the Vienna-based utility OMV after it said it would stop payments for the gas following an arbitration award. The official cutoff of supplies before dawn Saturday came after Austrian Chancellor Karl Nehammer on Friday held a hastily called news conference to emphasise his country has a secure supply of alternative fuel for this winter. OMV said it would stop paying for Gazprom gas to its Austrian arm to offset a 230 million-euro (USD 242 million) arbitration award it won from the International Chamber of Commerce over an earlier cutoff of gas to its German subsidiary. The Austrian utility said in an email that no gas delivery was made from 6 a.m. on Saturday. OMV said on Wednesday it has sufficient stocks to provide gas to its customers in case of a potential disruption by Gazprom, and said storage in Austria was at more than 90 per cent. Russia cut off most natural gas suppli

Exploration, monetisation of natural gas will benefit Northeast India: IGX

Exploration and monetisation of natural gas deposits in the northeastern region can help cut down its import, while also boosting the local economy and providing more trade opportunities, a top official of the Indian Gas Exchange (IGX) said. Rajesh K Mediratta, Managing Director and CEO of IGX, the country's first automated national level gas exchange, maintained that the region can supply the surplus gas not only to other parts of the country, but also to neighbouring Bangladesh and earn significant revenue. "The Northeast has tremendous potential in the production of natural gas. As the Northeast Gas Grid is likely to become operational by 2026, the deposit of 6 million MMSCMD of natural gas can be monetised by the existing producers," Mediratta said. "This will add to the country's energy security as IGX will help gas producers sell the surplus gas to the other regions," he said, while speaking at a seminar on 'Gas Market Development for North East' here on Friday. Highlighting

Gail Q2 results: Consolidated net profit up 10.2% at Rs 2,693 crore

The latest rise in net profits was driven by higher earnings from various segments

Mahanagar Gas Q2FY25 results: Net profit falls 16.5% to Rs 283 cr

State-backed natural gas distributor's profit after tax fell to Rs 283 crore (about $34 million) in the quarter ended Sept. 30 from Rs 339 crore a year earlier, the company said in an exchange filing