Lng Price

Goldman warns of likely Asia LNG price rise on European supply crunch

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

VE Commercial Vehicles signs pact with Baidyanath LNG for 500 LNG trucks

Volvo Eicher Commercial Vehicles (VECV) on Tuesday said it has signed an initial pact with Baidyanath LNG Private for the deployment of 500 LNG trucks, a move which would help in developing green trucking routes and scaling up the LNG Corridor in India. As part of this joint collaboration, Union Minister for Road Transport and Highways Nitin Gadkari flagged off Eicher Pro 6055 LNG trucks at the Baidyanath LNG Private Limited's newly-inaugurated facility in Nagpur, VE Commercial Vehicles said in a statement. The facility inaugurated by Gadkari on Monday, is the third LNG facility by LNG Baidyanath in the city. in 2021, the 104-year-old Ayurveda brand Baidyanath launched the country's first private Liquified natural gas (LNG) station in Nagpur. Under terms of the initial pact, which will be further detailed in definitive agreements, the creation of the LNG fleet will facilitate the development of the LNG station network across various strategic locations in Central India, VE Commerci

Swan Energy likely to sell FSRU stake to Turkey's Botas for $400 million

Billionaire Nikhil Merchant-led Swan Energy Ltd has said it plans to sell its stake in a floating LNG receipt terminal to Turkey's state-run Botas for USD 399 million. The company plans to sell assets of subsidiary Triumph Offshore Pvt Ltd to Botas Trading IC, according to a regulatory filing. "The definitive documents shall be signed in due course," it said, adding the deal is likely to be completed in six months. The sale consideration of USD 399 million is to be received in multiple tranches over an unspecified period. Triumph Offshore Private Limited (TOPL) owns a 5 million tonnes a year floating storage and regasification unit (FSRU) called Vasant-1. Swan Energy holds 51 per cent in TOPL while fertiliser maker IFFCO the remaining 49 per cent. The filing did not say if IFFCO is also offloading its stake. Swan is building a liquefied natural gas (LNG) import facility at Jafrabad in Gujarat. In the initial phase, gas, which is used to make fertilizers, generate electricity and

India's LNG resurgence may be short-circuited by rising costs of spot fuel

India's gas-fired generators, which took 5-6 cargoes of spot LNG in May, have little access to limited-term supplies and must rely on expensive spot fuels to generate power

Consortium considers converting LNG tankers to floating storage in India

India LNG Transport is a collaboration between the Indian shipping company and Japanese firms Mitsui OSK Lines Ltd., Nippon Yusen KK and Kawasaki Kisen Kaisha Ltd

Adani Total Gas looks to increase adoption of LNG as primary fuel

With quicker adoption of liquified natural gas (LNG) becoming a centre point in government's gas policy and to control greenhouse gas (GHG) emissions, leading city gas distributor (CGD) Adani Total Gas Ltd has identified this super-chilled fuel to fuel its growth. Adani Total Gas Ltd (ATGL) is aiming to increase the adoption of LNG as the primary fuel for long-haul commercial vehicles, replacing diesel, through an ecosystem approach, a senior company official said. This includes strategic tie-ups with various stakeholders like auto ancillaries, Original Equipment Manufacturers (OEMs), fleet operators, end-use industry, and retrofitment players to advocate for quicker adoption of the fuel. "The biggest challenge of LNG is distribution. Currently we have only a handful of LNG dispensing stations and hence it is a chicken and egg situation. Fleet operators are unwilling to invest in switching over till the distribution network comes up, and till the demand builds up, oil marketing ...

NITI Aayog report bats for incentives to promote LNG as transportation fuel

Government think tank NITI Aayog has pitched for providing fiscal and non-fiscal incentives to promote liquified natural gas (LNG) as a transportation fuel in medium and heavy commercial vehicles. In a report titled LNG as a Transportation Fuel in Medium and Heavy Commercial Vehicle', the Aayog said the government's think-tank suggested setting up a demand aggregator company for buying LNG trucks, similar to Energy Efficiency Services (EESL) in the electric vehicle sector. According to the Aayog, India's rapidly expanding trucking market, which is expected to more than quadruple, from 4 million trucks in 2022 to roughly 17 million trucks by 2050, offers immense scope for lowering emissions and encouraging investments for growth. The Aayog suggested that priority lane access, for LNG vehicles can be provided as non-fiscal incentives to promote LNG. "Major cities and roadways need to be recognised, and such priority lane access can be tested first in major cities and roads," it ...

Asian LNG importers ramp up spot purchases after prices hit 7 month low

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

India's natural gas ambitions tripping even though imported LNG prices fall

The slowdown could impact India's net zero targets

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

China signs one of its biggest ever LNG deal with Qatar at $60 billion

Qatar Energy will send Sinopec 4 million tons of LNG a year starting in 2026, the state-controlled companies announced in a virtual ceremony on Monday

India's gas reliance grows as Europe cuts down on energy consumption

India's demand for the fuel has slumped 5 per cent in the April-September period of FY23 to 31.5 billion cubic metres from a year ago, after rising 5 per cent 2021-22

Shortage of LNG tankers beginning to affect supplies to India: Industry

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

LNG markets may tighten further in 2023 as demand likely to rise: IEA Chief

LNG markets in 2023 may be tighter than this year as demand may rise in China, India and other parts of Asia, the head of the International Energy Agency (IEA) said

Gas price review panel, led by Kirit Parikh, seeks more time: Report

The government-appointed panel for reviewing the pricing of natural gas has sought more time to submit its report as it does a tightrope walk of striking a balance between the expectations of producers and consumers, sources said. The panel headed by former planning commission member Kirit S Parikh was tasked to suggest a "fair price to the end-consumer" by the end of September. Given the enormity of the task, the committee wanted 30 more days to finish the report but the government wants it to wrap up the work by mid-October, two sources with knowledge of the matter said. A decision on the exact duration of the extension will be taken next week after oil secretary Pankaj Jain returns from his overseas trip, they said. Natural gas is a fossil energy source that formed deep beneath the earth's surface. It is used to generate electricity, produce fertiliser, convert into CNG to run automobiles and piped to household kitchens for cooking and heating. It is also used in making glass, .

Strong demand to drive gains for stocks of city gas distributors

GAIL has come under pressure since it is not receiving contracted liquefied natural gas (LNG) cargoes and it is being forced to buy LNG at much higher prices

OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

LNG price volatility a cause of concern for consumers: Nakul Raheja

We see a very bright future for gas in India, said Shell Energy India's Raheja, In terms of long term LNG prices, volatility has been a lot less

Delhi, NCR CNG price up by Rs 2.5 per kg; total increase at Rs 6.6 per kg

In a month, the CNG prices have been revised seven times, which comes on the back of a surge in gas prices globally

Ukraine crisis: Asian LNG prices slide amid stable European gas flows

Market players remain concerned over the risk of Russian supply disruption amid a tense geopolitical situation following Moscow's invasion of Ukraine