The recent record-high LNG spot prices in Asia highlighted the more stable prices of the gas for LNG buyers in long-term supply contracts compared to the much higher volatility in spot prices, says oilprice.com. However, long-term supply is indexed to the inherently volatile oil prices. Global natural gas demand is set to return to pre-crisis levels as […]
The new LNG policy draft has recommended liquefied natural gas (LNG) as the fuel of the future for heavy transport as well. The policy targets to convert 10 per cent of long haul heavy duty trucks to ply on LNG. The timeline to achieve the target, however, has not been specified in the draft document. […]
Vedanta Ltd has invited bids for the sale of natural gas from its prolific Rajasthan block at rates equivalent to the price of imported LNG from the spot market or Brent oil price. Cairn Oil & Gas, Vedanta’s oil and gas arm, produces about 3.5 million standard cubic meters per day (mmscmd) of gas from its […]
India’s natural gas production has risen above the pre-COVID level following the start of output from a KG-D6 field operated by Reliance Industries Ltd and its partner BP Plc, upstream regulator DGH said. Natural gas production in the country in February 2020 was 80 million standard cubic meters per day (mmscmd) and in January this year it […]
Reliance Industries has picked up two-thirds of its own new gas from KG-D6 block that was auctioned under new rules with state-owned GAIL and Royal Dutch Shell getting smaller volumes. Reliance and its partner UK’s BP Plc auctioned 7.5 million standard cubic metres per day (mmscmd) of incremental gas from the R-series gas field in the KG-D6 block, […]
Jay Cheema, is a partner in law firm Cyril Amarchand Mangaldas, where he specialises in energy. He talked to Biman Mukherji of indoasiancommodities.com about expectations from the forthcoming budget for the oil and gas, renewables and energy sector to expedite the recovery process from the global pandemic. Q: Oil prices have started recovering, but the sector has been […]
Asian LNG (liquefied natural gas) prices have hit record highs due to supply glitches, transportation bottlenecks and soaring demand for heating due to a cold snap, according to S&P Global Platts data. Benchmark LNG prices, the S&P Global Platts JKM, was assessed at $32.494/MMBtu on Jan 12, which is the highest since it was launched […]
Adani Green Energy (AGEL) said that French energy giant Total SA will acquire 20% minority interest in the company from Adani Group. The deal, valued at around $2 billion, will also provide Total a seat on the board of directors of AGEL. The transaction follows Total investing $ 510 million in April 2020 for the acquisition […]
The government should bring natural gas under the Goods and Services Tax (GST) regime to accelerate a gas-based economy and raising the share of the environment-friendly fuel in India’s energy basket, the Federation of Indian Petroleum Industry (FIPI) industry said. Natural gas is currently outside the ambit of GST, and existing legacy taxes — central […]
Petroleum Minister Dharmendra Pradhan has said the government has planned a $60-billion investment for creating gas infrastructure in the country till 2024. The share of gas in the energy mix is expected to rise to 15 per cent by 2030. Currently, gas accounts for 6 per cent in the country’s total energy mix. Speaking at […]
