Page 7 - Natural Gas

Bringing natural gas under GST will lead to faster adoption: Oil secy

The government is cautiously optimistic of solving the GST issue in 2024-25, he said

Crude Oil, Natural Gas: Check key trading strategy, target price

Despite ongoing conflicts and lower demand growth expectations, oil prices remain steady

Crude oil, Natural gas, Copper: Check key trading strategy, target price

Crude oil prices rose by 0.5 per cent to $78.48 on Monday amid volatility tied to hopes for an end to the Gaza conflict.

Japanese consortium to invest $370 mn in Natural Gas Transition Platform

The infrastructure investor said the platform will also increase investments to boost the consumption of renewable natural gas or biogas in India and use of green hydrogen using the city gas network

Monthly natural gas trades down 80% in March: Indian Gas Exchange

Increasing global gas prices, and an extended winter in March led to the sudden fall

GAIL plans to commission its first green hydrogen project in April

"Once the initial hiccups are sorted at the commissioning stage, we expect to start producing in a month's time," one of the sources said

Mahanagar Gas legally challenges infrastructure exclusivity expiry notice

City-gas distributor to apply for a 10-year extension to continue its infrastructure exclusivity in Mumbai

Competition status quo to stay amid PNGRB notice: Industry experts

Petroleum and Natural Gas Regulatory Board (PNGRB) in a public notice said the infrastructure exclusivity granted to geographical areas in Mumbai and Greater Mumbai have expired

Kerosene consumption falls significantly by 26% CAGR during FY14-23: Data

Kerosene consumption in the country has declined sharply by 26 per cent CAGR between 2013-14 and 2022-23, mainly due to government policies to promote clean energy. The latest 'Energy Statistics India 2024' of the National Statistical Office (NSO) stated, "The impact of energy policies of recent time is evident on the consumption of kerosene as a fuel in the country". The data showed that the consumption of kerosene has seen a steady decreasing trend with a compounded annual growth rate (CAGR) of (-) 25.78 per cent from 2013-14 to 2022-23. The report stated that among all the petroleum products the HSDO (diesel), which has the highest share of consumption (38.52 per cent) during 2022-23, experienced a positive growth of 12.05 per cent over the last year. Petrol and pet coke have witnessed a growth of 13.38 per cent and 28.68 per cent, respectively, over the last year. HSD (diesel) has also registered a 12.05 per cent growth to 85.90 MTs during 2022-23(P) compared to 76.66 MTs duri

Maha CM Eknath Shinde inaugurates country's first LNG-powered bus

Chief Minister Eknath Shinde on Friday inaugurated India's first Liquefied Natural Gas (LNG) powered bus, which will be operated by Maharashtra State Road Transport Corporation, an official said. A release from the state-run transport corporation said 5000 of its diesel vehicles will be converted to LNG alternative fuel vehicles in phases, adding that 34 per cent of its total expenditure is for diesel for its fleet of 16,000 buses. "Due to conversion of buses from diesel to LNG, pollution will reduce by 10 per cent and fuel cost will go down significantly. MSRTC has signed an MoU with M/s Kings Gas for the conversion of buses to LNG. It includes usage and supply of fuel," the release said. MSRTC, which ferries around 60 lakh passengers everyday, will set up LNG distribution facilities at 90 depots across the state, the release added.

Compressed bio gas plants to be set up in Raipur, Bhilai; BPCL signs deal

An MoU was signed on Wednesday between BPCL, Chhattisgarh Biofuel Development Authority and municipal corporations of Raipur and Bhilai for production of Compressed Bio Gas (CBG) in Chhattisgarh, officials said. As per the pact, BPCL- a central PSU, will set up CBG plants in Raipur and Bhilai with an investment of around Rs 100 crore and the capacity of each plant will be 100-150 tonne per day. The MoU was signed in the presence of Chief Minister Vishnu Deo Sai and Deputy CM Arun Sao here at the former's official residence, they said. In his address, Chief Minister Sai said the establishment of CBG plants is a key step towards clean city, clean energy and zero carbon emissions. About 200-250 metric tonne of municipal solid waste will be used every day in the production of biofuel in the two CBG plants. BPCL will invest approximately Rs 100 crore for setting up the two plants, Sai said. The setting up of these plants will create about 60,000 man days of employment directly and ...

After MGL and IGL, Torrent Gas reduces CNG prices by Rs 2.50 per kg

After city gas retailers in Mumbai and Delhi reduced CNG prices, Torrent Gas on Saturday announced a Rs 2.50 per kg reduction in compressed natural gas (CNG) prices across all its locations. "This makes CNG cheaper by up to 45 per cent vis a vis petrol and up to 37 per cent vis a vis diesel," the company, which has a city gas license to sell CNG to automobiles and piped cooking gas to households in 34 districts, said in a statement. "This reduction in prices of CNG has been done with an objective of promoting the usage of clean fuel and enhancing the ecosystem of natural gas." Mahanagar Gas Ltd, the city gas operator in Mumbai and its adjoining areas, on March 6, announced a Rs 2.5 per kg reduction in CNG price. Accordingly, the revised CNG price will be Rs 73.50 per kg. "MGL's CNG price now offers attractive savings of 53 per cent compared to petrol and 22 per cent compared to diesel at current price levels in Mumbai while delivering unmatched convenience, safety, reliability and

Swan Energy's natural gas business arm prepays Rs 2,206 crore debt

Swan Energy on Monday said its natural gas business arm Swan LNG Pvt Ltd has prepaid Rs 2,206 crore of loan taken from a consortium of lenders. Post-prepayment, Swan LNG's debt has come down to Rs 1,611 crore and the firm will save around Rs 250 crore in interest cost annually, the company said in a statement without disclosing the lenders' names. Before the repayment, the group's overall debt stood at Rs 3,817 crore as of December 2023. To facilitate the pre-payment, the parent company Swan Energy has lent Rs 2,210 crore to Swan LNG. Swan Energy had last week raised Rs 3,000 crore through a qualified institutional placement of equities to SBI Life, LIC, LIC Mutual Fund, Tata Mutual Fund, Infini Mutual Fund, SBI General Insurance, BNP Paribas Mutual Fund, Nomura, Diamond Asia, Bank of India Mutual Fund, ITI Mutual Fund, Goldman Sachs, Future Generali, Anand Rathi, and Quant Mutual Fund, among others. Meanwhile, public sector fertilizer major IFFCO, which has a joint venture with S

Iran accuses Israel of attack that saw explosions strike gas pipeline

An Israeli sabotage attack on an Iranian natural gas pipeline caused the multiple explosions that struck it a week ago, Iran's oil minister alleged on Wednesday, further raising tensions between the regional archenemies amid Israel's war on Hamas in the Gaza Strip. The comments by Iran's Oil Minister Javad Owji come as Israel has been blamed for a series of attacks targeting Tehran's nuclear programme. The explosion of the gas pipeline was an Israeli plot, Owji said, according to Iran's state-run IRNA news agency. The enemy intended to disturb gas service in the provinces and put people's gas distribution at risk. He added: The evil action and plot by the enemy was properly managed. Owji provided no evidence to support his claims. Israel has not acknowledged carrying out the attack, though it rarely claims its espionage missions abroad. The office of Prime Minister Benjamin Netanyahu, a longtime foe of Iran, did not immediately respond to a request for comment. The blasts on Febr

Adani Total Gas looks to increase adoption of LNG as primary fuel

With quicker adoption of liquified natural gas (LNG) becoming a centre point in government's gas policy and to control greenhouse gas (GHG) emissions, leading city gas distributor (CGD) Adani Total Gas Ltd has identified this super-chilled fuel to fuel its growth. Adani Total Gas Ltd (ATGL) is aiming to increase the adoption of LNG as the primary fuel for long-haul commercial vehicles, replacing diesel, through an ecosystem approach, a senior company official said. This includes strategic tie-ups with various stakeholders like auto ancillaries, Original Equipment Manufacturers (OEMs), fleet operators, end-use industry, and retrofitment players to advocate for quicker adoption of the fuel. "The biggest challenge of LNG is distribution. Currently we have only a handful of LNG dispensing stations and hence it is a chicken and egg situation. Fleet operators are unwilling to invest in switching over till the distribution network comes up, and till the demand builds up, oil marketing ...

ONGC Q3 results: Net profit shrinks 7.9% to Rs 10,748 cr as production dips

ONGC's total crude production dropped by 3.3 per cent to 5.21 million metric tonnes (MMT), down from 5.39 MMT in Q3 FY23

Petronet draws Rs 40,000 cr investment plan to increase profit by 2028

Petronet LNG Ltd, the operator of the world's largest liquefied natural gas (LNG) import terminal, will invest Rs 40,000 crore in expanding import capacity and petrochemicals with a target to treble net profit by 2028, its CEO A K Singh said. Petronet is making a foray into the petrochemical business by investing Rs 12,685 crore in a propane dehydrogenation plant that will convert imported feedstock into propylene, as well as setting up an LNG import facility at Gopalpur in Odisha at a cost of Rs 2,300 crore, he told reporters on the sidelines of India Energy Week here. The firm, which this week extended a deal to import 7.5 million tonnes a year of LNG from Qatar by 20 years, is also looking at investing in overseas projects such as a floating LNG terminal at Colombo in Sri Lanka. "We have charted a 1-5-10-40 strategy -- increasing turnover to Rs 1 lakh crore in 5 years with a net profit of Rs 10,000 crore from investing Rs 40,000 crore in expansions," he said. The strategy started

Gas to biofuels: India's demand sets agenda for global energy business

Country commits to increasing LNG imports as it separately invests in clean energy

Petronet signs a new long-term agreement to source LNG from Qatar

An existing deal for another 7.5 MMTPA of LNG from Qatar, signed back in 1999, was also recently extended by the company till 2028

Petronet to sign LNG deal with Qatar for supplies past 2028: Report

India wants to raise the share of natural gas in its energy mix to 15 per cent by 2030, up from 6.2 per cent currently, as part of an effort to cut emissions