LNG Import

Quick change in course reflects agility of trading firms in sending LNG supplies to Europe or Asia, whichever pays, as colder weather increases competition between the two regions for the fuel

There will also be delays in the upcoming LNG supply projects across the Americas, so Europe and Asia will have access to less LNG next year than originally expected, analyst at Goldman Sachs said

India, the world's second biggest crude steel producer, levies a 2.5 per cent basic customs duty and an additional 0.25 per cent social welfare tax on LNG

State-owned gas utility GAIL (India) Ltd will start importing LNG under two new contracts from 2026 and has added one more ship to transport the fuel, its Chairman Sandeep Kumar Gupta said on Wednesday. The company had in January this year signed back-to-back deals to import liquefied natural gas (LNG). It first signed deal to import 1 million tonnes of LNG from Dutch energy trader Vitol for 10 years and then another agreement to buy 0.5 million tonne per annum of LNG from UAE's ADNOC-Gas. "As a leading natural gas player, your company recognises the importance of ensuring supply security. In this direction, we have signed two 10-year LNG supply agreements, starting in 2026: 1 million tonnes from Vitol Asia Pte Ltd, Singapore and 0.5 million tonnes from ADNOC Gas, UAE," he said at the company's annual general meeting. LNG is natural gas, extracted from below the surface, that has been cooled down to liquid form for ease and safety of non-pressurised storage or transport. GAIL will

Shipments of Russian liquified natural gas to France more than doubled the first half of this year, according to new analyses of trade data, at a time when Europe has tried to pull back from energy purchases that help finance the Kremlin's invasion of Ukraine. Europe has restricted oil imports from Russia, but natural gas is still allowed. And while companies in France are importing the most, one analysis found EU countries overall imported 7% more Russian LNG, natural gas that has been chilled and liquified for easier ocean transport, in the first half of this year compared to the same period a year ago. Oleh Savytskyi, a founder of nonprofit Razom We Stand, which campaigns for tougher sanctions on Russian fossil fuels, said the EU's goal of phasing out all Russian fossil fuels by 2027 was appallingly off track. He said countries buying Russian LNG are sabotaging the continent's energy transition and contributing billions to Russia's war effort. European governments have said banni

Australia's largest LNG exporter said production from its Bass Strait project in Victoria and Pyrenees and Pluto LNG projects in Western Australia fell in the first quarter

India currently imports LNG via seven terminals. Along with the Chhara facility, Swan Energy Ltd.'s Jafrabad import facility is also expected to begin operations this year, according to BloombergNEF

India is likely to sign on Tuesday a multi-billion dollar deal to extend LNG imports from Qatar till 2048 at rates that are lower than current prices, sources said. Petronet LNG Ltd will sign the deal with QatarEnergy to extend import of 7.5 million tonne a year on sidelines of India Energy Week here. Sources said the price will be "significantly' lower than current price. Petronet currently imports 8.5 million tonne a year of LNG from Qatar under two contracts. The first 25-year deal is to expire in 2028 and is now being extended for 20 additional years. The second deal for 1 million tonne a year entered into in 2015, will be negotiated separately, sources said. India, the world's third biggest energy consumer, sees natural gas as a transition fuel for migrating to net zero carbon emissions by 2070. As part of this, the government is targeting to raise the share of natural gas in the country's energy mix to 15 per cent by 2030 from 6.3 per cent now. Sources said the current deal

Officials however said major LNG routes into India do not cross the main maritime area affe ted Houthi strikes in and around the Red Sea and Gulf of Aden

The Electricity Generating Authority of Thailand (EGAT) is also seeking one LNG cargo for delivery in March

Petronet has a 7.5-million metric ton per year (tpy) long-term LNG import deal with Qatar and its promoters Indian Oil Corp, Bharat Petroleum Corp and GAIL (India) Ltd has a 1 million tpy deal

TotalEnergies would supply 0.8 million tpy LNG to IOC under the 10 year deal, it said. TotalEnergies would supply LNG to IOC from its global portfolio

The company plans to import ethane from the United States for the project, the source said

An early onset of hot weather has already pushed power demand to near-record levels, stoking fears of a repeat of the intense heat wave last year

India's gas imports in October and November declined by about a fifth to about 1.8 million tonnes from this fiscal year's peak of 2.2 million tonnes in May

The company is currently expanding capacity by 9 million tonnes at its LNG terminals in Dahej, and Kochi

Tightening Russian gas supplies to Europe has led to scramble for tankers before winter sets in

New Delhi is yet to announce a comprehensive and detailed policy across the energy spectrum to tackle this very real threat to economic growth

Energy imports in particular plunged in June, capping a weak first half that may foreshadow a rare annual decline in purchases across many commodities

Centre has requested GAIL to start importing LNG to meet the rising demands in metropolitan areas