Largest Indian cargoes importer Petronet LNG reports record quarterly pre-tax profits as Dahej volumes surge
Petronet LNG, the state-backed owner of the largest Indian import terminal at Dahej in the West Coast state of Gujarat and a smaller facility at Kochi in the southwest state of Kerala and with plans for a third terminal, reported record quarterly earnings before tax while revenues plunged from a year ago as prices fell.
US LNG developer Tellurian pitches for buyers and investors in India after previous expired or cancelled deals
Tellurian Inc., the developer of the Driftwood LNG export plant in Louisiana, was present at the India Energy Week conference and exhibition in Bangalore seeking replacement buyers after it cancelled two sales and purchase agreements in 2022 with UK major Shell and global commodities firm Vitol as it formulated a new financing strategy.
Decline in Indian LNG imports slows in October while prices were 65 percent higher in fiscal year to date
Indian LNG imports continued their 2022 decline though at a slower pace as costs in the year-on-year period jumped 65 percent and domestic natural gas output also began to lose some momentum as the nation’s consumption fell.
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 growth story is rewritten as costs jump 40 percent and domestic gas production increases
Indian liquefied natural gas imports in the fiscal year from April 2021 to March 2022 declined by 3.4 percent, though still amounted to 350 cargoes even as costs jumped by 40 percent to almost $12 billion.
Largest Indian importer Petronet plans third LNG terminal and this time on the East Coast in Odisha state
Petronet, the largest Indian importer with two terminals on the West Coast at Dahej and Kochi, is now planning a third import facility on the East Coast where only one currently operates.
Indian Transport Minister’s home city of Nagpur opens first commercial LNG filling station to boost uptake
A company in Nagpur, one of the main cities in the western Indian state of Maharashtra, has set up the nation’s first commercial liquefied natural gas filling station for LNG-powered vehicles.
The LNG station is owned by Shree Baidyanath, an Indian group specializing in medicines, food and cosmetics distribution and making its first foray into the energy sector.
The first Indian LNG station open to the public was inaugurated in Nagpur on July 11.
It is located on the outer ring road towards Dighori and can serve LNG-powered cars, trucks or buses.
At present, four of India’s LNG import terminals have truck-loading stations for contracted customers, but cannot service random members of the public.
“This is the first-ever in the country to operate on a commercial basis,” said Subbarao Vaddadi, director of B-LNG, the fuel division of the Baidyanath group.
Baidyanath’s branching out into LNG was supported by the Indian Transportation Minister Nitin Gadkari, who is also a member of parliament in New Dehli for the City for Nagpur.
The Minister was looking for local companies to come forward and set up the LNG station and the Baidyanath group agreed to invest in the project.
“The station is operational and can take 60 vehicles a day for the pump to operate feasibly,” said B-LNG’s Vaddadi.
The Baidyanath group said it also had plans to convert 120 vehicles in Nagpur, including buses and trucks, to run on LNG.
The company said that LNG is being promoted as a cleaner alternative to diesel and the price of the LNG fuel at the Nagpur station would be lower than the current market price to encourage uptake of LNG fuel for transport.
LNG terminal truck-loading is available at India’s biggest terminal, the Dahej facility in the West Coast state of Gujarat and owned by Petronet LNG, as well as Petronet’s Kochi terminal in Kerala and the Hazira and Mundra terminals in the northwest.
LNG as a fuel for transport has been slow to take off in India even in the midst of increasing urban pollution problems.
In June 2021 the state of Kerala started a trial of LNG-powered buses in the first stage of a possible nationwide roll-out.
The LNG and the buses are being supplied to the Kerala State Road Transport Corporation (KSRTC) by Kochi LNG terminal owner Petronet.
The KSRTC has also drawn up plans to convert several hundred diesel-fuelled buses to LNG.
India registers calendar-year record of LNG imports backed by growing pipeline and terminal capacity
India hit a landmark annual total in liquefied natural gas imports in 2020 as the economy continued to grow along with pipeline and terminal infrastructure, even amid the challenges of the Covid-19 pandemic and with several months of shipments under the 2019 level.
Indian PM Modi declares ‘One Nation, One Gas Grid’ on road to an India with plentiful clean natural gas
Indian Prime Minister Narendra Modi opened the Kochi to Mangalore natural gas pipeline linking the LNG terminal in southwest India to the port in the central state of Karnataka and declaring in the Web ceremony “One Nation, One Gas Grid” as he stated that India would attain its goal of having a plentiful supply of clean natural gas .
Indian LNG importer Petronet posts 13 percent fall in revenues as it considers US stake
Petronet LNG, the largest importer of cargoes in India from nations like Qatar and Nigeria, posted a 13 percent fall in third-quarter revenues as net profits jumped while the company was considering taking an equity stake in a US export plant in Louisiana.
