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2016-09-22 18:40:00

LNG TO INDIA: UP 35%

LNG TO INDIA: UP 35%

NGW wrote, after witnessing a minor dip in July for the first time this year, India's LNG imports have regained their sharp double-digit growth rates. According to data published by oil ministry's Petroleum Planning and Analysis Cell (PPAC), LNG imports in August were 2.14bn m³, up almost 35% compared with the same month last year. Cumulative imports too remain substantially higher: for the first five months of fiscal year 2016-2017 (April-August), India's cumulative LNG imports were 10.34bn m³, up almost by 26% year-on-year.

The cost of importing LNG has dropped sharply this year after New Delhi signed a revised long term contract with Doha. Qatar is the largest supplier of LNG to India. Given the backdrop of low global LNG prices, Petronet LNG insisted on renegotiating its long term contract with RasGas. In December and the two parties have signed a revised deal. The revised formula bases the price on a three-month average figure of Brent crude oil, replacing a five-year average of a basket of crude imported by Japan.

India has four operational LNG terminals at Dahej and Hazira in Gujarat, Dabhol in Maharashtra, all in northwest India, and Kochi in the southern state of Kerala. According to a document released by the oil ministry on June 3, India's LNG terminal capacity will likely rise to more than double by 2022 as existing terminals expand capacity and new ones get commissioned.

 

India’s LNG imports (bn m³, and year on year %+/-)

April 2.14 +45
May 2.08 +43
Jun 1.9 +14
July  1.96 -3.8

 

Domestic production

India's gross gas output in August stood at 2.67bn m³, down almost 6% year-on-year. Cumulative output for the first five months of FY2016-2017 was 13.12bn m³, down about 4.22% on the same period of previous year.

-----

Earlier:

INDIA: 

6 MB IRANIAN OIL FOR INDIA 

ONGC BUYS VANKOR 

ASIAN LNG IMPORTS UP 

INDIA SAVES $3 BLN 

INDIA'S OIL CONSUMPTION UP TO 10.9%

 

QATAR: 

QATAR'S RATINGS "AA" 

QATAR LNG UP 50% 

ИНВЕСТИЦИИ КАТАРА: $9 МЛРД. 

INDIA & QATAR NEGOTIATIONS 

СОТРУДНИЧЕСТВО КАТАРА И РОССИИ

 

 

 

 

Tags: LNG, INDIA, QATAR
LNG TO INDIA: UP 35% September, 20, 09:05:00

OIL PRICE: ABOVE $55 YET

LNG TO INDIA: UP 35% September, 20, 09:00:00

GAS PRICES UP TO $3.146

LNG TO INDIA: UP 35% September, 20, 08:55:00

ЦЕНА URALS: $51,81591

LNG TO INDIA: UP 35% September, 20, 08:50:00

U.S. OIL + 79 TBD, GAS + 788 MCFD

LNG TO INDIA: UP 35% September, 20, 08:45:00

RENEWABLE'S FUTURE

LNG TO INDIA: UP 35% September, 20, 08:40:00

TOTAL BUYS RENEWABLE

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Chronicle:

LNG TO INDIA: UP 35%
September, 20, 08:35:00

BP - AZERBAIJAN OIL DEAL

BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.

LNG TO INDIA: UP 35%
September, 20, 08:30:00

U.S. DEFICIT UP TO $123.1 BLN

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.

LNG TO INDIA: UP 35%
September, 18, 12:35:00

OIL PRICE: ABOVE $55

U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.

LNG TO INDIA: UP 35%
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

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