Page 2 - City Gas Distribution

Mahanagar Gas surges 7% to hit 52-week high on acquisition of Unison Enviro

This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere), thereby, providing new avenues.

Supply uncertainty, EV push bring challenges to city gas distributors

Apart from hardships for domestic consumers using it for cooking, the rise in CGD prices indirectly has an impact on the government's goal of achieving 15% share of natural gas in the energy basket

Proposed gas price revision to bring short-term relief to CGDs: Analysts

The proposed domestic gas pricing formula by Kirit Parikh panel will likely provide headroom to CGDs to reduce prices and improve margins, but this may hurt producers like ONGC, Oil India, experts say

AG&P Pratham signs MoU with Karnataka govt to develop city gas distribution

/ -- AG&P Pratham, a leading player in the Indian City Gas Distribution (CGD) industry and the Government of Karnataka signed a Memorandum of Understanding (MoU) for the development of City Gas Distribution (CGD) networks to supply reliable, economical, and environment-friendly natural gas across fifteen districts of Karnataka. The MoU was signed during the Global Investors Meet 2022 being held in Bangalore from 2nd to 4th November 2022. Under the MoU, AG&P Pratham will invest INR 8,000 crores over the next eight years to build CGD networks in districts of Kolar, Mysuru, Mandya, Chamrajnagar, Hassan, Chikkamagaluru, Kodagu, Bagalkot, Koppal, Raichur, Kalaburagi, Vijayapura, Shivamogga, Uttara Kannada and Haveri. The area being developed by AG&P accounts for more than 55% of the state's geographical area and 42% of its population. Over the next 8 years, AG&P plans to build ~ 1000 km of steel pipelines, and ~5000 km of MDPE pipelines to bring natural gas to 5 million ...

CGD firms: Mahanagar Gas, IGL, Adani Total may add another 16%, charts show

Shares of gas distribution companies have being in focus on expectations of rise in demand, coupled with a favourable outcome from the Kirit Parikh report.

City gas distribution stocks in focus: IGL, MGL, Gujarat Gas up 4%

Analysts expects overall gas demand from the CNG and DPNG sectors to grow at 15.7 per cent CAGR over FY22-27 supported by aggressive expansion in infrastructure.

India plans to set up strategic gas reserve amid global energy crisis

Amid a deepening global energy crisis, India is planning to set up a strategic gas reserve on the lines of its strategic petroleum reserve (SPR)

Gas stocks in focus: MGL, IGL may zoom up to 16%; Gujarat Gas faces hurdle

The Oil Ministry has directed to divert natural gas from industries to city distribution companies to cool-off the elevated domestic gas prices

Gujarat Gas Q4 consolidated net up 28% to Rs 444 crore, income up 36%

For whole of FY22, the firm's consolidated net profit rise by only 1% to Rs 1287.37 crore

AG&P Pratham to pump in Rs 18,000 crore in city gas distribution

In talks with GAIL (India) for long-term supply to southern states

City gas distributor shares trade weak; IGL, MGL, Gujarat Gas down up to 6%

On the cost front, CGD companies are expected to incur high gas sourcing costs as spot liquefied natural gas (LNG) prices continue to remain at elevated levels.

IGL surges 10% on reports of CNG price hike; MGL rises 8% in choppy market

Reports suggest IGL has announced a hike in prices of compressed natural gas (CNG) in the Delhi-NCR region

LNG in post-Covid era: How global demand and supply will shape India market

India has set a target of raising the share of natural gas in its energy basket to 15 per cent by 2030 from the current 6.72 per cent

Adani Total Gas Ltd to invest Rs 20,000 cr in city gas over eight years

Firm has won licenses to expand its City Gas Distribution network to 14 new geographies in the recently concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board

Adani Total Gas Ltd to invest Rs 20,000 cr in setting up city gas infra

Adani Total Gas Ltd (ATGL) on Monday said it will invest Rs 20,000 crore in setting up city gas infrastructure across the country over the next 8 years

High LNG prices may impact India's climate goals, gas distribution targets

Gas consumption in India increases by an average of 7 per cent a year, estimates IEA

IOC to invest Rs 7,000 cr in city gas after it secures 33% market areas

Indian Oil Corporation on Sunday said it will invest over Rs 7,000 crore in setting up city gas distribution networks in the cities for which it has secured a licence in the latest bidding round.

Megha Engineering, Adani Gas top winners of city gas distribution licences

Megha Engineering and Infrastructures Ltd (MEIL) walked away with the most 15 licences to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round

Rs 80,000 cr investment as 430 bids pour in for city gas licensing round

As much as Rs 80,000 cr investment is envisaged in setting up city gas infrastructure in 61 geographical areas, including Jammu, Nagpur, Pathankot and Madurai.

Expansion of city gas distribution infra may create 450k jobs: HSSC chief

According to Sandeep Singh Rana, there will also be job growth in retail fuel pumps, and liquefied petroleum gas (LPG) distribution.