Natural Gas NEWS

Africa must act quickly to profit from its vast reserves of natural gas that the world will only want until it can shift towards lower carbon technology, the International Energy Agency said on Monday. In its Africa Energy outlook for 2022 published on Monday, the IEA Africa could be in a position by the end of the decade to export some 30 billion cubic metres (bcm) to Europe, which is currently hungry for gas because it is trying to reduce its reliance on Russia.

Badri Mahapatra, promoter of the firm said, “The investment will be made next year for a pan-India presence in the CBG business.

Gop: A seismic survey campaign conducted by Oil India Ltd has yielded positive results with the discovery of oil and natural gas at two places of Gop block in Odisha’s Puri district

From April 1, the government has raised the price of gas for old fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to USD 6.1 per million British thermal unit for April-September 2022 from USD 2.9.

Germany's economy minister announced the seizure in a statement on Monday. The move came after the ministry of economic affairs learned that Gazprom Germania had been acquired by JSC Palmary and Gazprom export business services LLC

Government headhunter Public Enterprise Selection Board (PESB) choose Gupta, who is currently executive director at Oil and Natural Gas Corporation (ONGC), after interviewing six candidates, according to a PESB notification.

The company said in a statement that it would withdraw from all Russian hydrocarbons, including crude oil, petroleum products, natural gas and liquefied natural gas, "in a phased manner".

Talks of a natural gas pipeline from Israel to Europe could be rekindled to provide the continent with an alternative to Russian gas amid Putin's invasion of Ukraine, Chevron CEO Michael Wirth said at the CERAWeek conference in Houston on Monday.

Haldia's Rs 37.50 crore offer for Coastal is just Rs 1 crore above liquidation value which once again raised questions over confidentiality of valuatiion reports as first pointed out in Videocon's resolution case.

The cumulative output for the April-January 2021-22 is 4.63 per cent lower than the official target for the period

During the drilling of the well, four hydrocarbon zones were encountered in the Dharvi Dungar (DD) formation, the company noted. Cairn Oil & Gas, a subsidiary of the Vedanta group, has announced a new oil discovery in a key exploration block in Barmer, very close to its prolific Rajasthan block RJ-ON-90/1.

LNG prices lurched from record lows under $2 per mmBtu in 2020 to record highs of $56 in October 2021 as markets struggled to keep pace with global economies recovering from the pandemic.

Crude oil futures were trading lower and the natural gas futures were trading higher on the Multi Commodity Exchange (MCX) on Thursday morning. January crude oil futures were trading at ₹5,726 in the initial hour of Thursday morning trade as against the previous close of ₹5,828, down by 1.75 per cent. March Brent oil futures were at $79.69, down by 1.37 per cent and February crude oil futures on WTI were trading at $76.80, down by 1.35 per cent.

Power problems on Shell’s giant Prelude gas vessel in December with almost 300 workers onboard risked the “catastrophic failure” of parts of the ship’s structure, according to a report by the offshore safety regulator. While the crew off the WA coast battled in tropical heat without air conditioning or ventilation to restore power, the steel spine of the vessel was cooling towards a point where it could have lost the strength to support the 80,000 tonnes of gas processing equipment on top of the 488 metre-long vessel.

The LNG terminal project would be completed by June 2022. The Philippines department of energy has approved the application of Linseed Field Power Corp. to construct, expand, rehabilitate and modify its integrated LNG import terminal in Batangas City, Manila Standard reported on December 31. The department previously approved the transfer of the project application from Singapore-based Atlantic Gulf & Pacific (AG&P) to Linseed. AG&P was issued the notice to proceed by the government in March last year. AG&P will now concentrate on being the project contractor, the newspaper reported. The LNG terminal project would be completed by June 2022. The proposed project is adjacent to the 1,200 MW Ilijan combined cycle power plant. The terminal will have the initial capacity to deliver up to 3mn metric tons/year of regasified LNG, with additional capacity for liquid distribution.

Kuala Lumpur, Dec -30 - Natural gas, the Cleanest hydrocabon, has an important role to play in carbon emission reduction, especially in Malaysia.

In our series of articles on Power Scotland and the move to renewable energy we have targeted coal as the number one enemy for global warming. Scotland no longer generates electricity from coal. The two largest and the last to go were Cockenzie in 2013 and Longannet in 2016. England still has 4 coal-fired power stations due to be phased out by 2025. England also depends on former coal-fired plants now burning wood pellets that are now no longer recognised as renewable.

European Union climate chief Frans Timmermans gave the clearest signal yet that the bloc is considering a role for natural gas under its green rulebook for investments, setting up a clash with some national governments. Timmermans said that an exit from coal for some member states, like Poland, would require an “intermediary stage” using natural gas. It would be subject to strict conditions, including pre-fitting pipelines so that they can carry hydrogen and de-carbonized gases after the transition from natural gas ends.