MOL, GAIL 10-yr LNG charter bolsters India’s gas import logistics
GAIL India and Mitsui O.S.K Lines (MOL) have signed a 10-year time charter for the LNG carrier GAIL Bhuwan in a move expected to expand India’s LNG shipping capacity, improve import logistics and support the country’s growing gas demand.
Indian gas tariff
March 27 (LNGJ) - India’s Petroleum and Natural Gas Regulatory Board has set the tariff for pipelines operated by Gas Authority of India (GAIL), which is also an LNG importer. The pipeline tariff has been set at 58.61 Indian rupees (US$0.71) effective from April.
GAIL (India) said the tariff applies to nine physically inter-connected natural gas pipelines, including several near LNG import terminals such as the Dahej Uran-Dabhol-Panvel Pipeline (DUPL-DPPL) and the Dabhol-Bangalore Pipeline (DBPL).
India’s Petronet LNG reports rise in profits and revenues because of gas prices even as import volumes fall
Petronet LNG, the owner of the largest Indian cargo import terminal at Dahej north of Mumbai, reported an 18 percent increase in net profits and a 58 percent surge in annual revenues even as India’s LNG imports showed a year-on-year decline.
Indian LNG cargo deliveries gather pace and may get back to earlier levels to set record for 2020
Indian liquefied natural gas monthly imports edged higher as shipments cost less and began to gather pace along with economic activity and shipments for September at the nation’s largest terminal from Cove Point in the US and from Trinidad.
Petronet LNG reports 20 percent drop in profits and will soon sign supply deal close to spot prices
Petronet LNG, the largest Indian gas importer, reported an almost 20 percent drop in quarterly net profits to near $50 million as it planned to sign an agreement soon to buy cargoes at close to Asian spot prices.
GAIL has rating cut
June 9 (LNGJ) - The Indian LNG importer, Gas Authority of India, has had its credit rating cut by US agency Moody’s Investors Service by one notch from “Baa2” to “Baa3”. Indian pipeline network operator GAIL is also tolling contract holder at the Cove Point LNG export plant in the US state of Maryland.
“The revision in the credit rating was done as Moody’s has revised the rating of various Government-related issuers, including that of GAIL (India) Limited in line with the revision of India’s sovereign rating from ‘Baa2’ to ‘Baa3’ by Moody’s,” said GAIL in a statement.
US LNG supply accord signed by Petronet and Tellurian in front of Indian PM Modi has lapsed
Tellurian Inc., the developer of the Driftwood LNG plant in Louisiana, has confirmed that its prestigious accord with India’s Petronet LNG for volumes and investment first signed in the presence of Indian Prime Minister Narendra Modi has now elapsed.
Cove Point LNG developer Dominion Energy reports solid earnings and seeks growth
Dominion Energy, the developer of the Cove Point LNG export plant in Maryland, reported fourth-quarter earnings of $1.1 billion compared with $641 million for the same period in 2018.
GAIL cargoes from US
Dec 31 (LNGJ) - Gas Authority of India (GAIL), the state-owned utility and the holder of a tolling agreement at the US Cove Point plant in Maryland and a supply accord with Cheniere Energy’s Sabine Pass plant in Louisiana, said it planned to import 90 cargoes from the US in the next fiscal year from April 2020 to March 2021. This will be more than the 75 cargoes, or around 5 million tonnes of US cargoes, GAIL was expected to import during the current fiscal year.
Indian quest for cleaner air helped by Qatar LNG shipments as landmark 2,000th cargo arrives
Qatargas, the leading global liquefaction and LNG export company, has achieved a landmark 2,000th cargo delivery to India to help the Asian nation’s transformation to the use of cleaner fuel and to reduce pollution in cities such as Mumbai.
