Gas

Moldova declares energy state of emergency fearing Russian gas shortage

Moldova's parliament on Friday voted in favour of imposing a state of emergency in the energy sector over fears that Russia could leave the European Union candidate country without sufficient natural gas supplies this winter. A majority in Moldova's 101-seat legislature voted to pass the state of emergency, which will start on December 16 and last 60 days. A special commission will urgently adopt measures to manage imminent risks if Moscow fails to supply gas to the Kuciurgan power plant, the country's largest, which is situated in the separatist pro-Russian Transnistria region. Moldovan Prime Minister Dorin Recean said his country faces an exceptional situation in which Moscow could deliberately weaponise energy flows to destabilise the country, and potentially leave people in the middle of winter without heat and electricity. Russian energy giant Gazprom supplies the gas-operated Kuciurgan plant, which generates electricity that powers a significant portion of Moldova proper. The

Quantum Capital to buy US power producer Cogentrix Energy for $3 bn

Cogentrix, which was bought by Carlyle from Goldman Sachs in 2012, operates more than 70 gas, coal, solar and other renewable assets

ONGC to intensify gas production in Tripura to feed power plants: Official

Oil and Natural Gas Corporation (ONGC) has intensified operations to increase gas production in Tripura to feed power generation plants in the northeastern state, an official said on Monday. The decision comes amid reports of a reduction in gas supply to various gas-based power generation plants in the state. ONGC produced 1,527 million standard cubic metres (MMSCM) of gas in Tripura in the 2023-24 fiscal, while it has set a target of extracting 1,675 MMSCM gas in the current fiscal. "ONGC has been working to increase gas production so that sufficient gas is supplied to the gas-based power plants in Tripura. We have already set a target of extracting 1,675 MMSCM of gas during the current fiscal year (2024-25) while the production was 1,527 MMSCM in 2023-24," ONGC's Tripura Asset Manager Krishna Kumar told PTI. He said that ONGC will dig as many as 20 new wells for gas exploration in the financial year 2024-25 and one more rig will be added shortly to boost the exploration drive. At

India's clean air target at risk as gas plan caught in regulatory minefield

New Delhi's ambitious targets to clean its air by decarbonising energy sector will be underpinned by its success in building nascent natural gas segment

ONGC gets govt clearance for clean energy projects, gas business unit

State-owned Oil and Natural Gas Corporation (ONGC) will set up a new unit to house its gas business and clean energy projects such as green hydrogen, as it looks to fast-track foray into new areas. In a stock exchange filing, the firm said it last month received approval of the Ministry of Petroleum and Natural Gas for formation of a wholly-owned subsidiary company for gas business and clean energy projects. "The proposed name of the company is 'ONGC Green Limited' subject to approval of the Ministry of Corporate Affairs, Government of India," it said, adding the company board at its meeting on Tuesday approved the formation of the wholly-owned subsidiary for green energy and gas business. The wholly-owned subsidiary company will be for value-chains of energy business such as green hydrogen, hydrogen blending, renewable energy (solar, wind and hybrid), biofuels/ biogas business and LNG, ONGC said. The nation's largest oil and gas producer plans to spend Rs 1 lakh crore on installin

Gas firms seek price deregulation as city distribution targets fall behind

International gas prices, typically one-sixth of oil prices, have risen since late 2021, touching $100 per barrel

ONGC to cut gas flaring, use green power at oil wells: Chairman Arun Singh

State-controlled Oil and Natural Gas Corporation (ONGC) plans to wheel green electricity to its installations in the Arabian Sea to replace natural gas it uses in operation of oil wells as part of its ambitious decarbonisation programme, its Chairman Arun Kumar Singh said. India's top oil and gas producer has substantially cut gas flaring -- burning of methane gas is produced when oil is extracted from below surface -- and would look to bring it down to nil as part of its environmental commitments, he said while speaking at the 28th UN Climate Change Conference in Dubai, called COP28. Singh said ONGC uses a lot of gas to generate electricity as well as meet compression and other process needs of an oil and gas field. By 2028, this gas is intended to be replaced with green power wheeled to installations as far as 160 km from the west coast. The gas thus freed will be sold to industries like fertiliser and power plants. Companies around the globe have pledged to slash down methane ...

OPEC defends 'vilified' oil-and-gas industry on eve of climate meeting

The Organization of Petroleum Exporting Countries said that the IEA has "unjustly vilified" the industry over its role in the climate crisis

Hope diplomatic row with Qatar will not hurt LNG import deals: Petronet CEO

The government in New Delhi said last week it was "deeply shocked" by a decision by a Qatar court to impose the death penalty on eight Indians arrested in the country last year

Inox Air to invest Rs 500 cr on gas purification facilities for chip fabs

Fifty different and extremely pure gases are required for fabricating chips, of which only eight are available in raw form in India

Vedanta seeks a minimum of $9.5 per mmBtu for gas from its Rajasthan block

Billionaire Anil Agarwal's Vedanta Ltd is seeking a minimum of USD 9.5 for the natural gas it produces from its Rajasthan block, according to a tender floated by the firm for the sale of the fuel. Vedanta sought bids from users for 0.6 million standard cubic meters per day of gas it plans to produce from the RJ-ON-90/1 block in the Barmer basin of Rajasthan in three months beginning October 1. Gas extracted from below ground is used to produce electricity, make fertilizer, turned into CNG to fire automobiles, or piped to household kitchens for cooking purposes. In the tender, Vedanta asked users to quote a variable 'P' that they are willing to pay over and above 14.5 per cent of Brent crude oil price. At the current Brent price of USD 84 per barrel, the base comes at USD 12.18 (14.5 per cent of USD 84). Users have to quote a 'P' over and above this price. Gas price will be calculated as lower of Platts LNG WIM (the price of liquefied natural gas delivered on India's west coast) an

RIL-bp sets $11 per mmBtu as opening price for gas auction from KG-D6 block

Reliance Industries Ltd and its partner bp of the UK have offered for auction 6 million standard cubic metres per day of more gas from their KG-D6 block as the partners bring the deepest field in the block to production. The two partners will on May 19 e-auction 6 mmscmd of gas, whose supplies will start from June 1, according to a tender document. Bidders have been asked to quote a variable 'v' over and above the JKM price, the spot market benchmark for liquefied natural gas (LNG) delivered to Japan and South Korea. The starting bid price is V = USD -0.06 (minus 0.06) per mmBtu. "Each Bidder is required to enter bids that are higher than or equal to the starting bid price," the tender document said, adding the maximum value of 'v' that would be accepted will be USD 0.75 per mmBtu. The JKM price is around USD 11.5 per million British thermal units at present. And the start price of the auction translates into a gas price of USD 11.44 per mmBtu and at the ceiling, it would result in

Asia's chip makers powered by coal and gas imperil climate goals

None of the 13 semiconductor, display and final assembly companies have climate commitments in line with the Intergovernmental Panel on Climate Change recommendations

Ukraine aims to set up major European gas storage hub: Energy Minister

Ukraine has one of the largest underground gas storage facilities in Europe, capable of storing more than 30 billion cubic meters of gas, the minister said

Gas sector confident of smooth transition as it awaits new pricing rules

Officials said existing APM gas prices have been left broadly unchanged till Sept 31 as a temporary arrangement

TMS Ep404: Opec+ output cut, Alibaba, gas stocks, mixed reality headset

How will OPEC+ oil output cut affect you? What is happening at Alibaba? How will the unified pipeline tariff impact gas stocks? What is Apple's mixed reality headset? All answers here

The Parikh committee's logic for proposed gas policy

In a competitive market, it is the consumer price that should be equalled to the cost of imported gas

Parikh panel's plan to link gas prices to global crude comes a cropper

When the suggestion was made, crude was at a huge discount to gas; but now, with the unpredictable course of fossil fuel prices playing spoilsport, govt may be forced to do a rethink

Gas pricing up in the air: 2023 to see new trading products from exchanges

New trading products could be the start of India's attempt to create a domestic price benchmark and derivatives contract market, and the tapering of the administered price regime

Domestic LPG cylinders to come with QR codes: Check benefits, other details

"All domestic gas cylinders will have QR code in the next three months", said IOCL chairman Shrikant Madhav