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India`s HPCL to start LNG terminal around year-end, seeks term supply, sources say India's Hindustan Petroleum Corp (HPCL) is seeking a liquefied natural gas (LNG) cargo to commission its new import terminal in December or January, and is in talks with between eight and nine companies for long-term supply, three sources said. HPCL has built a 5 million metric ton per year (tpy) LNG import terminal at Chhara in western India, the country's sixth, as New Delhi seeks to boost the use of the cleaner fuel. The company's previous attempts to commission the plant in...
India`s HPCL to start LNG terminal around year-end, seeks term supply, sources say
India`s HPCL to start LNG terminal around year-end, seeks term supply, sources say
Source: Reuters
2024-10-18 03:53:36 pm
ADNOC to supply Indian Oil with LNG for 15 years The Abu Dhabi National Oil Company has agreed a 15-year deal to supply Indian Oil with 1 million metric tons per annum of liquefied natural gas, the Abu Dhabi Media Office said on Monday. The LNG will mainly come from ADNOC's Ruwais LNG project, the government media office said. ADNOC has big ambitions in gas and LNG, which along with renewable energy and petrochemicals it sees as pillars for its future growth, putting it in competition with regional rivals Qatar - one of the world&...
ADNOC to supply Indian Oil with LNG for 15 years
ADNOC to supply Indian Oil with LNG for 15 years
Source: Reuters
2024-09-09 04:18:03 pm
India plans to use LNG for third of truck fleet, in blow to diesel India plans to have a third of its heavy duty long-haul trucking fleet fuelled by liquefied natural gas (LNG) instead of diesel in five to seven years to cut pollution, according to a draft policy from the federal oil ministry. India, one of the biggest emitters of greenhouse gases, has set a 2070 net zero goal and wants to raise the share of natural gas in its energy mix to 15% by 2030 from about 6% now. India is slow to adopt LNG-fuelled trucks compared to China, where use of electric...
India plans to use LNG for third of truck fleet, in blow to diesel
India plans to use LNG for third of truck fleet, in blow to diesel
Source: Reuters
2024-09-09 04:02:44 pm
Global LNG markets heading towards significant supply glut, India to benefit The global liquified natural gas (LNG) markets are now heading towards significant supply glut, which is set to benefit India as significant capacity addition amid expectation of modest demand growth in the global consumption will keep the LNG prices under check, a report said on Wednesday.  Consumption in India is expected to grow by 6-8 per cent YoY in FY2025, supported by softer LNG prices and an uptick in the domestic gas production, according to the report by credit rating ICRA. ...
Global LNG markets heading towards significant supply glut, India to benefit
Global LNG markets heading towards significant supply glut, India to benefit
Source: IANS
2024-08-28 02:05:17 pm
New Zealand addresses energy security, affordability The New Zealand government has moved to address the serious risk to energy security and affordability, the Energy Minister said on Monday.  "New Zealand currently has an energy shortage. The lakes are low, the sun hasn't been shining, the wind hasn't been blowing, and we have an inadequate supply of natural gas to meet demand," Energy Minister Simeon Brown said. That has led to New Zealand currently having the highest wholesale electricity prices of any of the cou...
New Zealand addresses energy security, affordability
New Zealand addresses energy security, affordability
Source: IANS
2024-08-26 05:27:04 pm
India HPCL scouts for LNG deals, hopes to start LNG terminal by Dec India's Hindustan Petroleum Corp Ltd is scouting for liquefied natural gas (LNG) import deals as it expects to start its 5 million ton per year (tpy) LNG terminal in western India by end of this year, its head of finance said on Tuesday. "We will be undertaking commissioning activity in November or December depending on weather conditions ... We are in the market for tying up long-term gas from international players," Rajneesh Narang said at its June quarter earnings call. ...
India HPCL scouts for LNG deals, hopes to start LNG terminal by Dec
India HPCL scouts for LNG deals, hopes to start LNG terminal by Dec
Source: Reuters
2024-07-30 05:50:04 pm
Samsung Heavy wins $1 billion order for 4 LNG carriers South Korean shipbuilder Samsung Heavy Industries said on Monday it has won a 1.4 trillion-won ($1 billion) order to build four liquefied natural gas (LNG) carriers for a Middle Eastern shipper.  The vessels will be delivered to the undisclosed shipping company by August 2028, Samsung Heavy Industries said in a regulatory filing. So far this year, the shipbuilder has clinched orders worth $4.9 billion to build 22 ships, or 51 percent of its 2024 target of $9.7 billion, reports Yonh...
Samsung Heavy wins $1 billion order for 4 LNG carriers
Samsung Heavy wins $1 billion order for 4 LNG carriers
Source: IANS
2024-07-01 12:12:58 pm
Oil prices steady as markets weigh supply tensions, China economic recovery Oil prices were little changed on Tuesday as worries about China's economic recovery prospects offset supply concerns stemming from tensions in the Middle East and Ukrainian attacks on Russian refineries. Brent futures for August delivery rose 7 cents, or 0.08%, to $86.06 a barrel at 0015 GMT, ahead of the contract's expiry later this week. The more actively traded September contract, rose 8 cents, or 0.09% to $85.23. U.S. crude futures climbed 11 cents, or 0.13%, to $81.74 a ba...
Oil prices steady as markets weigh supply tensions, China economic recovery
Oil prices steady as markets weigh supply tensions, China economic recovery
Source: Reuters
2024-06-25 09:19:39 am
Scorching heat drives India's gas-fired power use to multi-year highs in May Sweltering heat and policy measures are fuelling a surge in the use of gas-fired power in India, with imports of liquefied natural gas (LNG) forecast to rise sharply over the next two years, industry officials and experts say. The country's gas-fired power generation doubled in April and May to 8.9 billion kilowatt-hours (kWh) compared with the same period last year, data from Grid India showed, eating into the share of coal-fuelled electricity for the first time since the COVID-19 pan...
Scorching heat drives India's gas-fired power use to multi-year highs in May
Scorching heat drives India's gas-fired power use to multi-year highs in May
Source: Reuters
2024-06-06 11:43:25 am
TotalEnergies signs LNG agreements with Indian Oil Corp, Korea South-East Power French energy major TotalEnergies announced on Tuesday agreements with Indian Oil Corporation and Korea South-East Power for the supply of liquefied natural gas (LNG) over a medium to long term period. It signed a sales and purchase agreement with Indian Oil Corporation to deliver up to 800,000 metric tons per year of LNG to India for ten years from 2026, it said in a statement. The company also signed a heads of agreement with Korea South-East Power to supply up to 500,000 metric tons ...
TotalEnergies signs LNG agreements with Indian Oil Corp, Korea South-East Power
TotalEnergies signs LNG agreements with Indian Oil Corp, Korea South-East Power
Source: Reuters
2024-06-04 01:58:43 pm
400 LNG stations can come up by CY30, matching the 2-3mmtpa demand: Emkay Global Financial Services According to a report from Emkay Global Financial Services- Oil & Gas, LNG for transport – In germination mode, 400 LNG stations can come up by CY30 which could service 50,000 trucks that will entail the LNG demand of ~2.3mmtpa. Emkay Global Financial Services believes that a benign medium-term LNG pricing environment can be conducive for the LNG retail market (for heavy trucking-vehicle sector) to take shape in India.About 4mn trucks-heavy vehicles are operating...
400 LNG stations can come up by CY30, matching the 2-3mmtpa demand: Emkay Global Financial Services
400 LNG stations can come up by CY30, matching the 2-3mmtpa demand: Emkay Global Financial Services
Source: PR Agency
2024-03-29 09:39:30 am
Sector Update: LNG for transport - In germination mode By Emkay Global financial Services Ltd We believe a benign medium-term LNG pricing environment can be conducive for the LNG retail market (for heavy trucking-vehicle sector) to take shape in India. While China’s demand is stated to be 18-20mmtpa, India can also achieve 2-3mmtpa by CY30. The opportunity in India could be ~50K trucks serviced through ~400 LNG retail stations. At current diesel and LNG prices, cost economics place TCO of an LNG truck at 10-20% discount to diesel, which could be good enough to start with. Howeve...
Sector Update: LNG for transport - In germination mode By Emkay Global financial Services Ltd
Sector Update: LNG for transport - In germination mode By Emkay Global financial Services Ltd
Source: PR Agency
2024-03-29 08:49:51 am
BPCL shines after its joint venture renews 20-year partnership with Qatar Energy Bharat Petroleum Corporation is currently trading at Rs. 630.55, up by 29.00 points or 4.82% from its previous closing of Rs. 601.55 on the BSE. The scrip opened at Rs. 609.85 and has touched a high and low of Rs. 635.00 and Rs. 606.45 respectively. So far 484386 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 635.00 on 08-Feb-2024 and a 52 week low of Rs. 314.10 on 28-Feb-2023. Last one week high and low of th...
BPCL shines after its joint venture renews 20-year partnership with Qatar Energy
BPCL shines after its joint venture renews 20-year partnership with Qatar Energy
Source: Accord Fintech
2024-02-08 03:03:56 pm
Essar`s sustainability initiatives propel India`s energy transformation Essar, a prominent player in India's energy landscape, is charting a new course towards sustainability. At the recent India Energy Week, the company unveiled an ambitious plan to reshape the nation's energy future. Built upon the pillars of Decarbonisation, Decentralisation, and Digitalisation, Essar's strategic vision aims to propel India towards a greener economy. Prashant Ruia, Director of Essar Capital, talked about the company's dedication to energy transition by...
Essar`s sustainability initiatives propel India`s energy transformation
Essar`s sustainability initiatives propel India`s energy transformation
Source: IANS
2024-02-08 10:58:57 am
Mahanagar Gas rises on forming JV with Baidyanath LNG Mahanagar Gas is currently trading at Rs. 1262.95, up by 2.50 points or 0.20% from its previous closing of Rs. 1260.45 on the BSE. The scrip opened at Rs. 1262.15 and has touched a high and low of Rs. 1274.00 and Rs. 1257.70 respectively. So far 5101 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1274.00 on 16-Jan-2024 and a 52 week low of Rs. 831.00 on 03-Feb-2023. Last one week high and low of the scrip stoo...
Mahanagar Gas rises on forming JV with Baidyanath LNG
Mahanagar Gas rises on forming JV with Baidyanath LNG
Source: Accord Fintech
2024-01-16 11:46:59 am
India`s GAIL signs 10-yr LNG purchase deal with Vitol State-run GAIL (India) Ltd has signed a long-term deal with trader Vitol for an annual purchase of about 1 million metric tons of liquefied natural gas (LNG) for 10 years from 2026, the Indian company said in a statement on Friday.
India`s GAIL signs 10-yr LNG purchase deal with Vitol
India`s GAIL signs 10-yr LNG purchase deal with Vitol
Source: Reuters
2024-01-05 02:08:23 pm
Samsung Heavy ordered to compensate $290 mn over defects in LNG carriers Samsung Heavy Industries, a South Korean shipbuilder, said on Monday it has been ordered by an arbitration centre in London to compensate $290 million to SK Shipping Co. over defects in two liquefied natural gas (LNG) carriers. In a regulatory filing, Samsung Heavy said the London arbitration center found that the shipbuilder is responsible for failing to fix the defects in the LNG carriers, reports Yonhap news agency. Due to the defects, an affiliate of SK Shipping was forced to suspen...
Samsung Heavy ordered to compensate $290 mn over defects in LNG carriers
Samsung Heavy ordered to compensate $290 mn over defects in LNG carriers
Source: IANS
2023-12-18 02:48:29 pm
Proposed 5% biogas blending with natural gas supplies can cut LNG imports worth $1.17 billion annually: IBA A study by the Indian Biogas Association (IBA) has stated that the proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth $1.17 billion annually. The study comes against the backdrop of the government's recent mandate to blend one per cent biogas with piped natural gas (PNG) supplies in the country from April 1, 2025 under the compressed biogas blending obligation (CBO) scheme. The biogas blending is proposed to be further increased to 5 ...
Proposed 5% biogas blending with natural gas supplies can cut LNG imports worth $1.17 billion annually: IBA
Proposed 5% biogas blending with natural gas supplies can cut LNG imports worth $1.17 billion annually: IBA
Source: Accord Fintech
2023-12-04 12:04:40 pm
GAIL India issues swap tender for 24 LNG cargoes in 2025 GAIL (India) Ltd has issued a swap tender offering 24 liquefied natural gas (LNG) cargoes loading out of the United States next year in exchange for 24 other cargoes for delivery to India in 2025, said two industry sources on Thursday. India's largest gas distributor is offering two cargoes per month, from January to December, for loading from Sabine Pass on a free-on-board (FOB) basis. It is seeking the cargoes for delivery to the Dhamra terminal for the same months on a delivered ex-...
GAIL India issues swap tender for 24 LNG cargoes in 2025
GAIL India issues swap tender for 24 LNG cargoes in 2025
Source: Reuters
2023-11-16 09:12:47 am
Hindustan Zinc partners with GreenLine for deployment of LNG-powered trucks for logistics GreenLine Mobility Solutions Ltd (GreenLine), India's premier LNG-powered heavy trucking logistics company, marked a historic milestone as it officially deployed its LNG-powered trucks at Hindustan Zinc, a Vedanta Group company involved in zinc, lead and silver business. In its commitment to sustainability and environmental responsibility, Hindustan Zinc has chosen Essar’s green mobility solutions company, GreenLine, as its sustainable logistics partner, ushering in a new era of ...
Hindustan Zinc partners with GreenLine for deployment of LNG-powered trucks for logistics
Hindustan Zinc partners with GreenLine for deployment of LNG-powered trucks for logistics
Source: IANS
2023-11-10 10:03:26 am
GAIL India issues swap tender for January delivered LNG cargo GAIL (India) Ltd has issued a swap tender offering one liquefied natural gas (LNG) cargo for loading in the United States in exchange for one LNG cargo for delivery to India in January, said two industry sources.India's largest gas distributor is offering a cargo for loading from Cove Point on a free-on-board (FOB) basis on Jan. 14.It is seeking one cargo for delivery to the Dabhol terminal on Jan. 1-7 on a delivered ex-ship (DES) basis.The tender closes on Oct. 12.
GAIL India issues swap tender for January delivered LNG cargo
GAIL India issues swap tender for January delivered LNG cargo
Source: Reuters
2023-10-12 09:10:19 am
Indian Oil Corp seeks three LNG cargoes for Oct-Nov delivery Indian Oil Corp (IOC) has issued a tender seeking three cargoes of liquefied natural gas (LNG) to be delivered between October and November, said two industry sources.IOC is seeking one cargo each to be delivered to the Ennore Port, Dhamra port and Dahej port, added the sources.The tender closes on Oct 6.
Indian Oil Corp seeks three LNG cargoes for Oct-Nov delivery
Indian Oil Corp seeks three LNG cargoes for Oct-Nov delivery
Source: Reuters
2023-10-06 11:54:12 am
India`s Hindustan Zinc to use LNG-fuelled trucks of GreenLine India's Hindustan Zinc Ltd will use the liquefied natural gas (LNG)-powered fleet of GreenLine Mobility Solution in its supply chain and transportation operations to cut its carbon footprint, according to a statement by GreenLine.Companies in India, the world's third-largest emitter of greenhouse gases, are investing billions of dollars to help the nation reach its target of net-zero emissions by 2070.Hindustan Zinc has itself set an earlier target of becoming a net-zero carbon emitter by 205...
India`s Hindustan Zinc to use LNG-fuelled trucks of GreenLine
India`s Hindustan Zinc to use LNG-fuelled trucks of GreenLine
Source: Reuters
2023-10-04 05:38:04 pm
Asia stock markets weaken ahead of US inflation data Asia stock markets were softer on Monday ahead of U.S inflation September data this week with investors seeking signals about the Federal Reserve's next likely moves on interest rates.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4%, after U.S. stocks ended the previous session with mild gains.Australian shares and Japan's Nikkei stock index both lost 0.25%.In Hong Kong, the Hang Seng Index was down 1.4% on falls for property stocks and after e-commerce giant Alibaba G...
Asia stock markets weaken ahead of US inflation data
Asia stock markets weaken ahead of US inflation data
Source: Reuters
2023-09-11 08:57:40am