All publications by tag «LNG»
According to latest data published by oil ministry’s Petroleum Planning and Analysis Cell (PPAC), LNG imports in October were 2.26bn m³, up almost 18.6% compared with the same month last year. Cumulative imports too remain substantially higher. For the April-October period, India’s LNG imports were 14.9bn m³, up by 25% on year.
The annual volume of the global gas trade is expected to increase from around 1,000bn m3 currently to 1,650bn m3 by 2040; an absolute growth of 65%.
China's state oil and gas majors are set to import record levels of liquefied natural gas (LNG) this month, betting on robust demand during the cold winter months and helping lift Asian prices to their highest in nearly two years.
India, the world's third-biggest energy consumer, is striving to grow its natural gas use and shift away from oil and coal for power and industry, but its lack of gas import infrastructure is stymieing faster adoption of the cleaner-burning fuel.
Novatek is planning a new large-scale project known as Arctic LNG 2, which targets annual production of 12 million to 16 million tons of LNG, with operations aimed to start by 2025. Mikhelson expressed a desire to see Japan be a cooperative partner at every step of the plan, from gas production to liquefaction plant construction and management, all the way to sales. It was also made clear that should Japanese enterprises cooperate, the country could expect a portion of the output.
“The rampant cost inflation on Australian projects combined with the collapse in oil prices is damaging for a lot of these projects,” said Neil Beveridge, analyst at Bernstein. LNG prices have been affected by a supply glut and are also linked to oil prices in Asia.
For the April-September period, India’s LNG imports were 12.7bn m³, up almost by 27% on year.
The three facilities have the combined capacity to supply 25mn mt/yr of LNG –equal to about 8% of the world’s production, Bechtel said October 11.
With hundreds of millions of people living without electricity in the world's poorest continent, African countries are increasingly turning to gas to take advantage of lower global LNG prices amid a supply glut.
Petronas, Malaysia’s state-owned oil and gas group, has gained approval from the Canadian government for a controversial $27bn liquefied natural gas project — but said it would have to consider the environmental conditions attached before deciding to proceed.