Page 8 - Natural Gas

PM Narendra Modi to inaugurate India Energy Week in Goa on February 6

Energy Ministers from 17 nations to discuss energy issues at India Energy Week

India's natural gas demand is expected to rise 6% in 2024, says IEA

India's natural gas demand is expected to rise by 6 per cent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 per cent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors. "Natural gas demand in India is expected to increase by 6 per cent in 2024, mainly supported by higher gas use in industry (including in the fertiliser sector) and stronger gas burn in the power sector amid the development of its national pipeline grid and city gas infrastructure," IEA said Gas Market Report released last week. India's natural gas demand had risen to 64 billion cubic meters in 2023. Liquefied natural gas (LNG) imports rose by 7 per cent on the year to 29 billion cubic meters last year, with import dependency at 44 per cent of the nation's ...

IGL Q3 results: Net profit jumps 41% on higher CNG, piped gas sales

Indraprastha Gas Ltd, India's leading CNG retailer, has reported a 41 per cent jump in third quarter net profit, as the firm recorded higher sales of CNG to automobiles and piped cooking gas to households and industries. The company clocked a net profit of Rs 392.07 crore in October-December - the third quarter of current fiscal that started in April 2023 - compared to Rs 278.26 crore in the same period in the previous year, it said in a statement. IGL operates city gas distribution (CGD) networks across 30 districts in 11 geographical areas across four states of Delhi, Uttar Pradesh, Haryana and Rajasthan. The company said it "registered an overall sales volume growth of 4 per cent over the corresponding quarter in the last fiscal, with the average daily sales going up to 8.48 million standard cubic meters per day from 8.12 mmscmd." "Product wise, CNG recorded sales volume growth of 4 per cent in the quarter, while piped natural gas (PNG) recorded sales volume growth of 5 per cent

Cabinet clears Rs 8,500 cr incentive scheme for coal gasification projects

The Union Cabinet on Wednesday approved a Rs 8,500 crore incentive scheme for coal gasification projects, sources said. The adoption of gasification technology in India is expected to reduce the country's reliance on imports of natural gas, methanol, ammonia and other essential products. The cabinet has given its go-ahead to Rs 8,500 crore incentive scheme for coal gasification projects, the sources said. The government is targeting to gasify 100 million tonnes (MT) of coal by 2030. In gasification process, coal is partially oxidised by air, oxygen, steam, or carbon dioxide under controlled conditions to produce a liquid fuel known as syngas. Syngas or synthesis gas can be used for power generation and to make methanol as well.

GEECL claims more than Rs 100 cr from Matix Fertilizers over GSPA dispute

Natural gas producer Great Eastern Energy Corporation Limited (GEECL) has claimed more than Rs 100 crore from Matix Fertilisers & Chemicals Limited, allegedly for not adhering to the terms of the Gas Sale and Purchase Agreement (GSPA). This may come as a blow to Matix which operates West Bengal's only large integrated fertilizer plant at Panagarh near Durgapur and claims to have a 20 per cent market share in eastern India. Matix did not want to make any comment on the development stating that the matter is sub-judice. The coal-bed methane gas producer entered into a GSPA with Matix in July 2017, which was valid till August 31, 2018. It claimed that Matix did not honour the Minimum Guarantee Offtake clause. According to the latest accounts notes, GEECL had then claimed Rs 148 crore including interest from Matix. GEECL also claimed that following arbitration, the company owes nearly Rs 112 crore including interest. It subsequently approached a commercial court in Rajarhat to execute

MNGL inks tech deal with Heath Consultants for low-emission operations

Gas distributor Maharashtra Natural Gas Limited (MNGL) said it has entered into a technology collaboration with US-based Heath Consultants Incorporated to ensure low-emission operations of its natural gas utility infrastructure. The Memorandum of Understanding (MoU), signed under the US-India Low Emissions Gas Task Force (LEGT), would provide MNGL and Heath to jointly identify opportunities in the areas of emissions abatement, underground utility damage prevention, and waste heat recovery, MNGL said in a statement. "Upon signing this MoU, we would work to convert such identified opportunities into specific implementable projects," MNGL managing director Kumar Shanker said in the company statement. Houston-headquartered Heath Consultants Incorporated will also offer its technical solutions to support MNGL in gas line location services, underground utility damage prevention, waste heat recovery, and low-emission valves. As per the agreement, Heath shall support MNGL in improving ...

ONGC makes two consecutive natural gas discoveries in Mahanadi basin block

State-owned Oil and Natural Gas Corporation (ONGC) has made two significant back-to-back natural gas discoveries in a Mahanadi basin deepwater block in the Bay of Bengal as its calculated game plan of venturing into high-risk deep water exploration starts yielding results. The firm made the discoveries in the block MN-DWHP-2018/1, which it had won in the third round of auction under the open acreage licensing policy in 2019, two sources with direct knowledge of the development said. Significantly, the discoveries have been made in an area, which previously was classified as a 'no-go' area because of national security interests. The first discovery, named Uktal, is in 714 metres of water depth and flowed more than 3 lakh cubic metres per day of gas during initial testing, they said, adding the other find is at a water depth of 1,110 metres. ONGC has notified the discoveries to upstream regulator Directorate General of Hydrocarbons (DGH) and is now doing pool size and commercial ...

Gail signs deal with Vitol to secure 1 mn MT of LNG annually for 10 years

The deal is significant as it is the first of a series of agreements being pursued by Gail to diversify its imports beyond Qatar, aiming to avoid disruption in supplies

IGX sees 16% surge in volume of gas traded in 2023 on its platform

The Indian Gas Exchange (IGX) on Thursday said volume of gas traded on the platform rose 16 per cent in 2023 as producers and consumers flocked to the exchange. IGX recorded 1.22 billion cubic meters or 3.3 million standard cubic meters per day of gas trade in 2023, it said in a statement. December volume at 67 million standard cubic meters or 2.2 million standard cubic meters per day was a 7 per cent decline month-on-month. "A total of 132 trades were executed during the month. The maximum number of trades were executed in daily contract, 61 trades; followed by fortnightly and monthly contracts of 27 and 18 trades, respectively," the statement said. The most active delivery point for free market gas was Dahej and the domestic ceiling price gas was traded at Gadimoga. Other trading delivery points were Hazira, Ankot, Suvali, Mhaskal, Bhadbhut & KG Basin. During the month, the exchange traded gas flows were 37,26,500 million British thermal unit or mmBtu (around 3 mmscmd). GIXI ..

Energy surge: Oil and gas sector set for good growth in FY24, FY25

Natural gas consumption to rise 10-15% this financial year, driven by CGD

Gas firms seek price deregulation as city distribution targets fall behind

Regulator warns them of losing bank guarantees as investors show little interest in gas economy

Proposed 5% biogas blending with LNG can cut imports worth $1.17 bn: IBA

The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government's recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme. The biogas blending is proposed to be further increased to 5 per cent by fiscal year 202829. According to the study, this blending initiative gels well with the government's macro-level move to make India a gas-based economy, with a target to increase the current share of gas in the energy mix from 6 per cent currently to 15 per cent by 2030. The IBA estimates show that 5 per cent blending of biogas with natural gas can reduce LNG imports worth USD 1.17 billion. This can also bring down per capita CO2 emissions by two per cent, benchmarked to the 2019 figure, which

The fossil fuel dilemma

Pandemic recovery, energy security, and profitability are fuelling demand, with China and India spearheading coal production growth

Failure to meet household gas demand will have consequences, says regulator

In many cases, connections have been provided, but the gas flow has not been initiated, the Chairman of Petroleum and Natural Gas Regulatory Board said

In Pakistan, steep natural gas price hike ahead of review by IMF

An IMF team is scheduled to arrive this week to review benchmarks set for the $3 billion stand-by arrangement it agreed in July

GAIL Q2 results: Profit jumps 56% to Rs 2,404 cr, operational revenue down

State-owned gas utility GAIL (India) Ltd on Tuesday reported a 56 per cent jump in its September quarter net profit as bumper earnings from gas transmission and marketing business offset petrochem losses. Standalone net profit of Rs 2,404.89 crore in July-September, or Rs 3.66 per share, was 54.4 per cent higher than Rs 1,537.07 crore, or Rs 2.34 a share, profit in the same period last year, according to the company's stock exchange filing. GAIL saw pre-tax earnings from its mainstay gas transportation business soar 82 per cent to Rs 1,290.65 crore in the second quarter of the current fiscal. Also, its pre-tax earnings from the marketing of natural gas also jumped almost 400 per cent to Rs 1,784.58 crore. Losses in the petrochemical business narrowed to Rs 160.61 crore from Rs 346.22 crore in July-September 2022. Its revenue from operations dropped to Rs 31,882.62 crore in July-September from Rs 38,490.89 crore on lower gas prices.

Israel-Hamas conflict clouds loom over crude oil and LNG supplies

Iran getting drawn into Israel war could hamper nearly 80 percent of liquified natural gas flows to India

OMCs to prepare joint roadmap on green hydrogen push, to tap cleaner fuel

Move to better map and service demand for green hydrogen beyond captive use for oil refineries

Govt launches 12th round of bidding for city gas distribution in NE states

Natural gas is used for cooking by households as piped natural gas (PNG), and as an auto fuel as compressed natural gas (CNG)

Govt invites bids for licences to supply natural gas to households

"After this round we will go with the authorisation for the island areas to cover 100% geographical areas," Oil minister Hardeep Singh Puri said