INDIA NEED U.S. LNG
REUTERS - Gail India called on U.S. liquefied natural gas (LNG) producers to offer more flexibility contract terms as the state-owned gas distribution gas company hunts for supplies from the middle of the next decade.
India last year was the fifth largest importer of U.S. LNG and natural gas is projected to double its share of the nation's energy mix by 2030 as oil-fired power plants convert.
Shri B.C. Tripathi, chairman and managing director of Gail India, said on Wednesday at the CERAWeek energy conference his company is in discussions with U.S. gas exporters to acquire new LNG supplies from 2024-2025.
"Traditional suppliers like Qatar or Russia have shown a lot of flexibility in recent past where they have modified their contracts, re-negotiated their contracts, aligned them to the market," Tripathi said in a brief interview.
"However, the U.S. contracts are purely a tolling model. Their tolling fee is fixed," he said, adding that U.S. LNG becomes less competitive against traditional supplies when oil prices drop.
The company has 20-year LNG contracts to buy 5.8 million tonnes per year of U.S. LNG, split between Dominion Energy Inc's Cove Point plant and Cheniere Energy Inc's Sabine Pass facility in Louisiana.
Gail currently sends up to 75 percent of its U.S. LNG supplies back to India, Tripathi said, and sells the rest into the spot market. All the LNG will eventually be shipped to India when more gas pipelines and regasification terminals are completed, he said.
Natural gas is expected to account for 15 percent of India's energy mix by 2030, up from the current 6.2 percent, MM Kutty, secretary of India's Ministry of Petroleum and Natural Gas, said earlier in the week.
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Совет директоров ПАО «Газпром» одобрил проводимую компанией работу по реализации крупнейших инвестиционных проектов. В числе приоритетных направлений деятельности компании — Восточная газовая программа.
В 2018 году «Газпром» поставил в Сербию 2,15 млрд куб. м газа — на 1,2% больше чем в 2017 году (2,12 млрд куб. м).
IEA - At the moment, Russia is sending record volumes to Europe while LNG utilisation rates remain relatively low. Limits to European production capacity and import infrastructure (with over half of pipelines operating at monthly peaks above 80%) may contribute to market tightness over the coming years, particularly if Asia continues to absorb the ramp up in global LNG liquefaction capacity.
The South Korean government Tuesday gave its final approval to lower taxes on LNG used for power production by 75%, and raise those on thermal coal by 28% from April 1, in a move likely to boost downstream gas consumption.