Global LNG outlook 2024-2028
Sluggish demand growth for liquefied natural gas (LNG), combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according
Sluggish demand growth for liquefied natural gas (LNG), combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according
Oil and Natural Gas Corporation (ONGC) has drawn up a ‘Perspective Plan 2030’ to invest Rs.11 lakh-crore over the next 18 years. Talking to newsmen here on Monday, Chairman and Managing Director Sudhir Vasudeva said the plan envisaged doubling of production over the next 18 years at 4-5 per cent. “The plan also includes a four-fold growth in market capitalisation, and a six-fold growth in production from international operations. All this will require an investment of Rs.11,00,000 crore,” he said.
The state government has decided to give adequate compensation to the land owners as part of laying the underground pipelines by the Gas Authority of India (GAIL) for the LNG project. Announcing the Cabinet decisions here on Tuesday, the Chief Minister added that though land will not be acquired for the project, compensation would be given. Directions in this regard have been given to the District Collectors, he said. The government has also decided to issue land to families of 310 fishermen of the Neyyattinkara taluk in Thiruvananthapuram.
Gas Authority of India Limited (GAIL) has announced a higher compensation to farmers in seven districts of the state on whose land through which it would be laying underground pipeline to take liquefied natural gas from Kochi to Bangalore. “The revised scale has been fixed as per the directions of the State Government by which each farmer will now be getting a compensation equivalent to 13 per cent of the ‘new guideline value’ of the land utilised for laying pipeline plus an amount to offset the cost of crops displaced, if any, to facilitate digging of earth,” S. Angamuthu, senior manager of GAIL, told The Hindu .
The Gujarat High Court on Tuesday gave sanction to scheme of amalgamation of Hazira Gas Private Limited with Hazira LNG Private Limited, both joint venture companies between Shell Gas BV and Total Gas Electricite Holdings, France. The scheme of amalgamation was sanctioned by Justice Abhilasha Kumari, who observed, "upon considering the facts and circumstances of the case and the material on record, and taking into account the contentions raised by the respective parties in their affidavits and counter affidavits as well as the submissions made at the Bar,
While the offer to supply liquefied natural gas (LNG) at $ 9.5 per unit to gas-based power projects of India Gas Solutions (IGS) is going to pose a tough challenge for the other players planning to set up LNG facilities on the Andhra coast, the question of feasibility is a matter power companies are still unclear about. “It all boils down to how much price a merchant power producer can command at the exchanges if he has to run the plant with LNG that is procured at $9.5 per mBtu (million British thermal unit),” a senior official of a large private power company told Business Standard.
Entering another important segment of the natural gas business, Reliance Industries Ltd and BP India are in talks with gas-starved power projects of Andhra Pradesh to supply long-term liquefied natural gas (LNG). India Gas Solutions (IGS), the equal joint venture between the two companies, is looking to sell LNG to five power producers in Andhra Pradesh — GMR, GVK, Lanco Infratech, Sravanthi Energy and Konaseema Gas — and would give them term sheets in the next few days.
New Delhi Falling KG-D6 output, costly imported LNG hem in power plants India's gas-based power stations are facing an uncertain future. Depleting output from Reliance Industries’ KG-D6 block and non-availability of adequate infrastructure to handle liquefied natural gas (LNG) imports are set to trigger suspension of about 7,000 MW of generating capacity, further widening the large gap between power demand and supply.
Hydrogen-propelled locomotive is the next big thing that the Indian Railways has set its eyes on. The Indian Railways Organisation for Alternate Fuel is in an “advanced stage” to develop a technology for
GAIL (India), Indian Oil Corporation (IOC) and ONGC Videsh Limited (OVL) have expressed their willingness to source LNG on long- and medium-term basis from existing and upcoming LNG liquefaction terminals, including for the Ennore LNG terminal, in Russia. Senior officials in the Petroleum Ministry said the issue was likely to come up for discussion during the upcoming visit of the Russian President, Vladimir Putin, to India in October. It is understood that Russia is considering development of greenfield LNG projects on the Eastern Coast of Vladivostok and capacity expansion of its existing Shakhalin-2 project to cater to Asian LNG markets
Petronet LNG Ltd, India’s largest natural gas importer, is in talks to set up a Rs 3,500-crore power plant adjacent to its upcoming liquefied natural gas import facility at Kochi in Kerala. Petronet had proposed to set up a 1,200-Mw gas-fired power plant, a 50:50 joint venture with the Kerala government, sources privy to the development said. Kerala, which faces power shortages, is willing to partner Petronet and the land it would give for setting up of the power plant would be considered as part of its equity contribution in the project.