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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 (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
The price of natural gas produced from difficult areas like deepsea KG-D6 block of Reliance Industries on Sunday was cut by a steep 18 per cent, in line with softening of benchmark international gas prices, an official notification said. However, the price of gas that is largely used for making CNG for fueling automobiles or piping to households kitchens for cooking purposes will remain unchanged due to a price cap that is set at 30 per cent less than market rates such as that paid to Reliance.
Mahanagar Gas Ltd (MGL) plans a capital expenditure of ₹800 crore this fiscal year, focusing on infrastructure for compressed natural gas (CNG) and piped natural gas (PNG), the firm’s Managing Director Ashu Shinghal told ET Energyworld in an interview.
The petroleum and natural gas ministry has told the sector regulator that the latter’s proposed regulation on declaring a city gas distribution (CGD) network as a common carrier may lead to litigation as it fails to address the issues raised in previous court cases on the matter.
India’s downstream Oil & Gas regulator, Petroleum and Natural Gas Regulatory Board (PNGRB), is planning a thorough performance review of the country’s City Gas Distribution (CGD) networks, natural gas pipelines, and petroleum product pipelines.
The price of natural gas produced from difficult areas like KG-D6 of Reliance Industries is expected to be reduced by around 14% from next month. The price cut is in line with the softening energy prices. The government bi-annually fixes the prices of locally produced natural gas. Two different formulas govern rates paid for gas produced from legacy or old fields and for newer fields lying in difficult-to-tap areas.
The Indian gas utilities sector is returning to normalcy after facing volatility in prices and availability of LNG. Softening LNG prices increased domestic gas supplies, and regulatory support from the government are driving gas offtake in the domestic market. The domestic production is expected to grow, reducing reliance on LNG.
THINK Gas launches 100th CNG station and first LNG terminal in Madhya Pradesh. Currently, the company operates 41 CNG stations across Bhopal, Rajgarh, and Shivpuri.
GAIL expects its natural gas transmission volumes to expand 12% and polymer sales to double this financial year, its chairman Sandeep Kumar Gupta has said at the AGM. GAIL also expects the new levelized tariff determined by the regulator for its integrated pipelines to help boost its transmission revenues.
Indian Oil has set a net zero operational emissions target by 2046 and increasing the use of less-emitting gas is a key element of that plan. “Our natural gas consumption strategy is part of the national goal to increase the share of gas in primary energy consumption to 15% by 2030 from the current 6%,” Sukla Mistry, Director (Refineries), told ET.
Natural gas sector news
Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by the International Energy Agency (IEA) said on Tuesday. The IEA’s annual medium-term gas market outlook said global gas demand was on course to increase by an average of 1.6 per cent a year from 2022 to 2026, more slowly than the average annual rise of 2.5 per cent between 2017 and 2021. Russia’s invasion of Ukraine last year resulted in lower supplies of pipeline gas to Europe from Russia, prompting a race for alternative energy supplies.
ADNOC awards $17 billion in contracts to develop offshore natural gas fields with zero CO2 emissions
ADNOC announced the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible natural gas production and supporting its Net Zero by 2045 ambition and accelerated decarbonization plan.
His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundational stone of the North Field expansion project, which will raise the State of Qatar’s LNG production capacity from the current 77 million tons per annum (MMtpa) to 126 MMtpa by 2026.
Aramco has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean Energy is a liquefied natural gas (LNG) company formed and managed by EIG, an institutional investor in the global energy and infrastructure sectors.
Emphasizing a future vision for Qatar’s liquefied natural gas (LNG) industry, QatarEnergy announced that Qatargas has changed its name to “QatarEnergy LNG.” With a new name and logo, “QatarEnergy LNG” will continue to deliver on its commitment to safety, environmental protection, project delivery and the reliability and efficiency of its production facilities.
Union Cabinet on Wednesday said the Centre has approved the scheme for the release of grant money to support LPG connections to women under the Pradhan Mantri Ujjwala Yojana, said Union Minister Anurag Thakur in a briefing on Wednesday. Under this scheme, a total of 75 lakh LPG connections will be released over three years with a total financial implication of Rs 1,650 crore.
Gas prices are still expected to stabilise heading into winter despite a recent rise in spot prices on European benchmarks, energy experts have said.
LNG is considered a greener alternative to diesel-run vehicles and can help reduce pollution and emissions.
Maharashtra: Consumer commission orders MGL to pay Rs 15,000 to man for depriving him of gas connection over ‘NOC’
Ashok Desai, a resident of Vashi in Navi Mumbai, informed the Commission that he paid a deposit of Rs 6,135 along with his application for a gas connection to MGL in 2021 and the company accepted them.