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CGD sector news
CGD key beneficiaries if new gas price recommendations are approved
The recommendations of a government-appointed panel for reviewing prices of natural gas, headed by Kirit Parikh, if approved by the Cabinet, could accrue gains for city gas distribution (CGD) companies, according to analysts.
City gas distribution networks to expand, making gas accessible to 70 per cent of population
According to a report, the government will prioritize gas from challenging fields for compressed natural gas (CNG) and piped natural gas (PNG) households, if the bidding prices are comparable. This approach also has the added benefit of reducing trading margins on gas resale in difficult fields. Prioritizing CGDs would allow them to replace expensive spot gas with cheaper domestic gas.
Pricier city gas to temper volume growth to 8-10% this fiscal: Crisil
The over 40% increase in natural gas price to an all-time high of $8.57/mmbtu (metric million British thermal unit) will moderate India’s city gas consumption volume growth to 8-10% this fiscal versus an earlier projection of 20-25%, said Crisil Ratings in a note today.
Prices of CNG, piped cooking gas for households hiked by Rs. 3
The prices of CNG and piped cooking gas for households in the national capital on Saturday were hiked by Rs 3 each in step with a rise in input natural gas prices.
The Rs 3 per kg increase in CNG price is the first hike in rates in over four months, while a Rs 3 per standard cubic metres increase in piped natural gas (PNG) was the first raise in two months.
AG&P Pratham commissions its liquified CNG station in Tamil Nadu
AG&P Pratham, the City Gas Distribution (CGD) arm of the Singapore-based AG&P Group, a leading downstream LNG and gas logistics company, has opened its liquified compressed natural gas (LCNG) station in Ranipet district, Tamil Nadu.
CNG becomes costlier than petrol in this city of Uttar Pradesh, know why and by how much
The price of compressed natural gas (CNG) has increased again in Uttar Pradesh’s Kanpur and now it has become more expensive than petrol. On Wednesday, the price of CNG increased by Rs 2 to Rs 96.50 per kg, while that of petrol is Rs 96.28 and diesel by Rs 89.47 per litre.
Fresh review of gas pricing formula starts
Amid rising concerns over skyrocketing global natural gas prices jacking up energy and industrial costs, and derailing the efforts to contain inflation, the Centre has begun a review of the pricing formula for domestically-produced gas.
Natural gas sector news
Global natgas demand set for slower growth to 2026, IEA says
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.
QatarEnergy begins “major” LNG expansion project to advance energy transition, security
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 enters global LNG market with $500 million MidOcean Energy acquisition
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.
Qatargas rebrands to QatarEnergy LNG, places natural gas at center of energy transition
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.
Cabinet approves 75 lakh free LPG connections under Ujjwala scheme.
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.
Winter Gas Price Rally Unlikely Despite Recent Volatility
Gas prices are still expected to stabilise heading into winter despite a recent rise in spot prices on European benchmarks, energy experts have said.
GAIL to promote LNG as transport fuel; to set up small-scale units
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.