India’s petrol imports rose to 230,000 tonnes in July 2019, the highest in last eight years according to data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). However, July 2019 crude oil imports declined from a year earlier, while petrol imports climbed to their highest since at least April 2011. Crude oil imports into the world’s third-largest […]
India’s liquefied natural gas (LNG) imports rose 4.6 per cent year-on-year and 15.6 per cent month-on-month to 91 million metric standard cubic meter per day (mmscmd) in June, according to data from the Petroleum Planning & Analysis Cell and Ministry of Petroleum and Natural Gas. Lower domestic natural gas production in June coupled with higher […]
India’s LNG imports are forecast to increase from 22 million tonnes in 2018 to 33 million tonnes in 2021, Australia’s Department of Industry, Innovation and Science said in its Resources and Energy Quarterly report. India is aiming to lift gas’ share of the energy mix to 15 per cent by 2030 from the current 5 […]
Liquefied Natural Gas (LNG) prices are currently at $5 per million metric British thermal unit (mmbtu), down from a peak of $10 per mmbtu as recently as November 2018, credit rating agency CRISIL Research said in its latest report. The decline has been due to increasing supply in global markets from newly commissioned projects in […]
India’s imports of liquefied natural gas (LNG) for the month of April 2019 was 2502 million metric standard cubic metres (MMSCM), an increase of 9.7 per cent over the corresponding month of the previous year, according to latest data from the Petroleum Planning & Analysis Cell and Ministry of Petroleum and Natural Gas. The increase […]
Global demand for natural gas is set to keep growing over the next five years, driven by strong consumption in fast-growing Asian economies and supported by the continued development of the international gas trade, the International Energy Agency (IEA) said. Demand for natural gas grew 4.6% in 2018, its fastest annual pace since 2010, according […]
Shell and Japan’s Tokyo Gas Co Ltd have signed a long-term liquefied natural gas (LNG) deal, whose price will include a link to coal prices, in an innovative type of LNG contract aimed at diversifying price indexation. Typically, long-term LNG contracts for Asia are linked to the price of oil, while U.S. LNG sales are priced off […]
In a 2011 report, the International Energy Agency (IEA) asked a provocative question: are we entering a golden age of gas? At the time, U.S. shale gas production was surging and new fields were coming online around the globe, encouraged by high oil prices. Gas, it seemed, was poised to “play a far more prominent role […]
A 22-25 per cent decline in the prices of liquefied natural gas (LNG) since January this year, and an expected 5-7 per cent increase in consumption of piped natural gas (PNG) and compressed natural gas (CNG) should drive up the operating profit margins of city gas distribution (CGD) companies by 250-300 basis points (bps) in […]
China’s shift towards more environmentally friendly policies and its goal of doubling natural gas to at least 12 per cent of its energy mix, has made it quickly emerge as a significant player in the market. The potential LNG glut was forecast to persist until 2022, but Beijing single handedly changed the fortunes of producers with a massive increase […]
