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ACE advocates for CGD Sector Reforms as Pre-Budget Memorandum in Collaboration with Primus Partners Pvt. Ltd
The Association of CGD Entities (ACE), under the chairmanship of Shri Atnu Chakraborty (Chairman, ACE) and guidance of Shri Subhash Kumar (DG-ACE) in collaboration with the consultancy firm Primus Partners Pvt. Ltd., has submitted a list of key points containing critical issues faced by the City Gas Distribution (CGD) sector in light of the upcoming Union Budget of the Modi Government 3.0.
Subhash Kumar joins as DG, ACE
Subhash Kumar has taken over the charge as Director General, ACE, Association of CGD Entities.
City gas distribution companies oppose bid to change network exclusivity
A recent proposal of the Petroleum and Natural Gas Regulatory Board (PNGRB) which could change the rules for exclusivity in a city gas distribution (CGD) network has been opposed by incumbent and new entrants to the sector, including foreign investors.
Association of CGD Entities appoints Sh. Atanu Chakraborty as Chairman
Association of CGD Entities (ACE), a not-for-profit company established under the Companies Act to promote the development of the City Gas Distribution (CGD) sector in the country, announced the appointment of Sh. Atanu Chakraborty as its Chairman and independent director for a tenure of 3 years.
CGD sector news
Adani Total Gas Q4 PAT up 59 per cent
Adani Total Gas reported a 59 per cent increase in net profit in the fourth quarter of FY24 at ₹165 crore, while revenue from operations rose 5 per cent to ₹1,257 crore, with both CNG and PNG sales showing decent growth.
In the quarter, EBITDA was 49 per cent higher at ₹305 crore.
Sales of CNG and piped gas rose a fifth to 232 million metric standard cubic meter.
Maruti Suzuki expects over 30% jump in CNG vehicle sales at six lakh units in FY25
The country’s largest carmaker also aims to export around three lakh units in the ongoing financial year.
“So CNG, this year, we did about 4,50,000 (units) in passenger vehicles. We are hoping to do something like 6,00,000 vehicles in FY24-25,” Maruti Suzuki India Executive Director, Corporate Affairs Rahul Bharti, said in an analyst call.
Preparations for Modi regime 3.0: To fire up PNG adoption, govt may hand out free connections
The petroleum and natural gas ministry is drawing up plans to offer free piped natural gas (PNG) connections and consumption subsidies to poor households to help its wider adoption on the lines of the Ujjwala scheme, which popularised liquefied petroleum gas (LPG) among the poor, said people familiar with the matter.
Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5
The government on March 31 cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to $9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said.
India’s Clean Cooking Challenge: Can we look beyond subsidising LPG?
While this translates to over 100 percent coverage of clean cooking fuels, the uptake remains limited with 40 percent of households still depend on solid fuels like cow dung and firewood. PMUY customers get a subsidy for up to 12 cylinders, but, on average, they only use 3.8 cylinders annually. The average consumption of non-PMUY in the fiscal year (FY) 2022-23 was 6.6 cylinders.
Oil regulator PNGRB launches drive to increase piped gas adoption
The Petroleum and Natural Gas Regulatory Board (PNGRB), in collaboration with City Gas Distribution entities, is launching a campaign from January 26th to March 31st, 2024, with the goal of encouraging the widespread adoption of PNG (Natural Gas) in households and expanding the consumer base across various segments of the population. Natural gas, being a clean and convenient fossil fuel, is the focus of this initiative.
AG&P Pratham aims to provide 10K piped-gas connections in Tamil Nadu in 2 months
AG&P Pratham aims to offer 10,000 PNG connections in Tamil Nadu by March 2024, participating in the PNGRB’s National PNG Drive with attractive schemes, a focus on women empowerment, and plans for a future transition to CNG
Mahanagar Gas completes its first acquisition; a ₹562 crore deal with Unison Enviro
MGL has also agreed to provide a corporate guarantee to lenders of UEPL to assure the due performance and compliance of terms of borrowings by the acquired company.
Govt making constant efforts to keep CNG prices under control: Oil minister Puri
Responding to supplementaries during the Question Hour, he said the government is encouraging consumption of compressed natural gas as it is relatively a cleaner fuel.
Natural gas sector news
Gas-based power plants’ utilisation up at 14.8%
The capacity utilisation, or plant load factor (PLF), of gas-based power plants rose to 14.8 per cent in FY24 from 11.5 per cent in FY23 aided by India’s rising electricity consumption due to growing industrial and commercial activity as well as increasing demand from households.
Indian Oil signs second long-term LNG deal with France’s TotalEnergies
New Delhi: India is looking to fortify its imports of LNG, a crucial ingredient in industrial applications and partly in transportation, through long-term contracts with overseas exporters.
This week, state-run Indian Oil Corporation Ltd signed a long-term contract with French energy giant TotalEnergies in France for supply of LNG (liquefied natural gas), two people aware of the development said.
PNGRB panel to come up with report on natural gas infra as part of Vision 2040
A deterrent for India to successfully shift natural gas/ Liquefied Natural Gas, as a favoured fuel, has been lack of a strategy to achieve the target. To ensure the gas networks are not under-utilised, and demand and supply is in sync, the Petroleum & Natural Gas Regulatory Board (PNGRB), has constituted a committee to examine various aspects of value chain including pricing.
Natural gas should come under GST regime, says GAIL chairman Sandeep Kumar Gupta
The government will need to make bold policy interventions if the country is to achieve its goal of more than doubling the share of natural gas in the energy mix to 15% by 2030, said GAIL chairman Sandeep Kumar Gupta. In an interview to ET’s Sanjeev Choudhary, the former finance chief of Indian Oil Corporation,
IGX launches small scale LNG contracts
Indian Gas Exchange (IGX) said on Wednesday that it has launched contracts of small-scale liquefied natural gas (ssLNG) on its platform after it received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB).
Indian Gas Exchange expects 35% jump in gas trading in FY25
Indian Gas Exchange (IGX) is expecting a 35 per cent jump in gas traded on its platform during the current financial year on the back of increased demand.
“During 2022-23, over 5.1 crore million metric british thermal unit (MMBTU) of gas was traded on IGX platform.
Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan
LONDON, April 24 (Reuters) – Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.
Domestic natural gas consumption surges owing to favorable international prices
Higher prices hurt India’s LNG imports and overall gas consumption last fiscal year. Demand recovered this fiscal year as prices normalized. LNG imports are up 14% year-on-year in the April-December period while total gas consumption in the country is higher by 9.4%. Imports account for 46% of total domestic gas consumption.
Cabinet approves viability gap funding of ₹8,500 crore for coal gasification
The Cabinet on Wednesday chaired by Prime Minister Narendra Modi approved the scheme for the promotion of coal/lignite gasification projects of government PSUs and private sector with an outlay of Rs.8,500 crore towards incentive for coal gasification projects under three categories.