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2017-11-20 09:05:00

INDIA'S GAS WILL UP

INDIA'S GAS WILL UP

REUTERS - India's state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi's goal of making the fuel a bigger part of the country's energy mix.

State-owned oil companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - are planning to raise gas contributions to between 5 and 15 percent of their incomes over the next few years, up from nearly none now, company executives said.

This in line with a government target to raise the natural gas portion of India's primary energy mix to 15 percent by 2030, up from 6.5 percent now, to help meet climate targets and rein in rampant pollution.

The increase would come mostly at the expense of coal, which is dirtier than gas and is India's most-used energy source. Liquefied natural gas (LNG) imports will cover the greater part of the growth, although the government also hopes to recover untapped domestic reserves off its east coast.

"Gas is an important part of our portfolio going forward," M.K. Surana, chairman of HPCL told Reuters, noting that the government push was expediting the development of gas in India.

With China, Pakistan and Bangladesh also increasing gas use, the surge in Asian demand is expected to help eat up a global glut of LNG supplies by 2021-2022.

BPCL, another leading Indian refiner, sees natural gas pulling in 5 to 10 percent of its overall revenue in less than a decade, from barely any now, its director of refineries, R. Ramachandran, told Reuters.

The state oil companies' plans involve building LNG import terminals and domestic pipelines, and bidding to set up urban gas networks across potential major demand centres, particularly in the eastern part of the country.

India's natural gas consumption is expected to rise to 70 billion cubic metres (bcm) by 2022 and 100 bcm by 2030, according to a government think tank and the Oxford Institute of Energy Studies, up from 50 bcm now. India burns just 7 percent of what top user the United States consumes in a year with about a quarter of India's population.

At 100 bcm, India would move into the top 10 of global natural gas consumers at current consumption figures.

BIG PLANS

India needs to invest an estimated $100 billion in natural gas infrastructure by 2022, according to Oil Ministry figures, including setting up a gas grid across 228 cities. A major chunk of this investment would come from the state oil companies.

HPCL, soon to be taken over by state-owned explorer Oil and Natural Gas Corp, is planning to expand its natural gas businesses via joint ventures, including its city gas distribution unit.

BPCL said it has also gone after city gas licenses and secured rights to supply gas to households and vehicles in four cities starting 2016/2017.

Both BPCL and HPCL - which are also separately looking to set up LNG import terminals - declined to say how much they are investing in their moves towards gas.

The biggest challenge preventing more gas use so far has been a lack of infrastructure, mainly gas pipelines and regasification terminals.

Still, India is already the world's fourth-largest importer of LNG, behind Japan, South Korea and China. Last year, India imported about 19 million tonnes of LNG, or 25 bcm, up around 15 percent over the previous year, according to government data.

There is "a clear push from the government ... (and) a genuine belief ... they can push the gas economy idea," said Rahool Panandiker, a partner at Boston Consulting Group.

India's biggest refiner, Indian Oil, told Reuters in October that it aims to generate 15 percent of its revenues from natural gas businesses in five years.

The nation's appetite for gas and the government push to build infrastructure has also pushed Reliance Industries and its partner in India, BP Plc, to relook at their dormant gas marketing business.

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Earlier:

IEA: GLOBAL ENERGY DEMAND UP BY 30%
2017, November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

 
 OPEC: 2040 GLOBAL ENERGY CHANGES
2017, November, 9, 14:00:00

OPEC: 2040 GLOBAL ENERGY CHANGES

Within the grouping of Developing countries, India and China are the two nations with the largest additional energy demand over the forecast period, both in the range of 22–23 mboe/d.

 

 EIA: NUCLEAR ENERGY WILL UP
2017, November, 9, 13:50:00

EIA: NUCLEAR ENERGY WILL UP

EIA projects that global nuclear capacity will grow at an average annual rate of 1.6% from 2016 through 2040, led predominantly by countries outside of the Organization for Economic Cooperation and Development (OECD). EIA expects China to continue leading world nuclear growth, followed by India. This growth is expected to offset declines in nuclear capacity in the United States, Japan, and countries in Europe.

 

 INDIA'S GAS WILL UP TO 15%
2017, November, 1, 13:25:00

INDIA'S GAS WILL UP TO 15%

Prime Minister Narendra Modi’s government wants to raise the share of natural gas in India’s energy mix to 15 percent in the next few years from about 6.5 percent now.

 

 INDIA - OPEC ENGAGEMENT
2017, October, 11, 12:40:00

INDIA - OPEC ENGAGEMENT

‘India's engagement with OPEC is important as India sources about 86% of crude oil, 75% of natural gas, 95% of LPG from OPEC Member Countries.’

 

 WORLD ENERGY CONSUMPTION UP TO 28%
2017, September, 15, 08:55:00

WORLD ENERGY CONSUMPTION UP TO 28%

The U.S. Energy Information Administration projects that world energy consumption will grow by 28% between 2015 and 2040. Most of this growth is expected to come from countries that are not in the Organization for Economic Cooperation and Development (OECD), and especially in countries where demand is driven by strong economic growth, particularly in Asia. Non-OECD Asia (which includes China and India) accounts for more than 60% of the world's total increase in energy consumption from 2015 through 2040.

 

 IMF: SOUTHEAST ASIA'S TRANSFORMATION
2017, September, 13, 15:10:00

IMF: SOUTHEAST ASIA'S TRANSFORMATION

IMF - When we think about Asia’s economic future, we know that this future is being built on strong foundations—on the richness and diversity of its cultures, on the incredible energy and ingenuity of the people who have changed the world by transforming their own economies. China and India have been driving the greatest poverty reduction in human history by creating the world’s largest middle classes. In a single generation, Vietnam has moved from being one of the world’s poorest nations to being a middle-income country.

 

 

Tags: INDIA, GAS

Chronicle:

INDIA'S GAS WILL UP
2017, December, 11, 09:55:00

SAUDIS OIL FOR JAPAN

REUTERS - State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.

INDIA'S GAS WILL UP
2017, December, 11, 09:50:00

U.S. EMPLOYMENT UP BY 228,000

U.S. BLS - Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.

INDIA'S GAS WILL UP
2017, December, 11, 09:45:00

ДОХОДЫ РОССИИ: +204,8 МЛРД. РУБ.

Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в декабре 2017 года прогнозируется в размере +204,8 млрд руб.

INDIA'S GAS WILL UP
2017, December, 11, 09:40:00

OPEC WILL BACK BY 2040

“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”

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