HPCL Scouts for LNG Deals, Hopes to Start LNG Terminal by Dec
(By Energy World, 30 July 2024)
HPCL is scouting for 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, as per company’s head of finance. HPCL will meet the gas needs of its two existing refineries and a new 180,000 barrels per day refinery and petrochemical project in Rajasthan through the Chhara terminal.
America Overtook UAE as India’s Second Largest LNG Supplier in 2023
(By Hindu Business Line, 30 July 2024)
The US displaced the UAE to emerge as India’s second largest supplier of LNG in 2023, accounting for 3.09 million tonnes (MT). Analysts attributed the development to weakening LNG prices in international markets as well as India’s proximity, via the Cape of Good Hope, to US LNG cargoes compared to North Asia. The US also emerged as the world’s largest LNG exporter in 2023.
LNG-Run Trucks Offer a Growth Opportunity for India
(By NDTV, 30 July 2024)
NITI Aayog in its January 2024 report said that diesel and LNG high-duty vehicles have similar ownership costs, with diesel trucks costing about 2% more. The report suggested reducing or exempting toll charges could promote LNG truck adoption, as seen in Europe. It also said advances in energy efficiency and production scale can lower total cost of ownership for all fuel technologies.
India’s Natural Gas Demand to Rise 8.5% This Year, Driven by Power and Industry
(By Business Line, 17 July 2024)
India’s natural gas consumption will grow by 8.5% in calendar year 2024 from 7% earlier, on account of rising demand from the power and industrial sectors, according to the International Energy Agency (IEA). LNG imports into India are expected to increase by 17%, Y-o-Y in 2024,” IEA said in its Q3 2024 gas market report.
India’s LNG Imports at 44-Month High in June as Gas-Based Power Output Jumps
(By Indian Express, 05 July 2024)
Provisional LNG vessel tracking data from commodity market analytics firm Kpler shows that India imported 2.60 million tonnes of LNG in June, the highest in as many as 44 months. Gas-based power plants operated at notably higher run rates than their usually subdued capacity utilisation levels amid a surge in electricity demand due to the severe heatwave.
Blue Energy Motors Spearheading India’s LNG Revolution in Long-Haul Trucking
(By Motor India, 04 July 2024)
Through proactive maintenance and strategic partnerships, Blue Energy Motors strives to spearhead India’s shift towards cleaner transportation energy solutions. India is rapidly expanding its LNG fueling infrastructure, planning to establish 1,000 stations along major highways and industrial areas to promote cleaner transportation fuels.
Curious Case’: Sell IOC, BPCL, HPCL, GAIL, Oil India, Petronet LNG Shares, Says Kotak
(By Business Today, 04 July 2024)
Large and rising capex by oil & gas sector PSUs has been one of key reason why Kotak Institutional Equities has turned cautious on the sector’s prospects. Calling it a ‘curious case’, Kotak noted that while oil PSUs upped capex by three times over FY2019-24 in comparison with FY2005-09, returns from those investments have fairly been weak.
Is India’s 2030 Gas consumption Target Feasible?
(By IEEFA, 01 July 2024)
The government has set a target of 500 Million Metric Standard Cubic Metres per Day (MMSCMD) of gas consumption by 2030. This requires a dramatic increase of over 170% within a short period from 185MMSCMD in the fiscal year (FY) 2023-24. Achieving the proposed consumption levels requires increased domestic gas production, enhanced LNG imports and massive infrastructure additions.
