Gail India Ltd News

GAIL (India) Ltd is close to finalizing a long-term liquefied natural gas (LNG) import deal with Qatar to buy at least 1 million metric tons per year, potentially for more than 20 years, three industry and trade sources said.The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.Neither state…

India received its first import of liquefied natural gas (LNG) from Russia's Yamal LNG project over the weekend, Refinitive Eikon LNG flows data showed.The cargo was supplied by Russian gas company Gazprom under its long-term LNG sales deal with GAIL (India) Ltd, an industry source said.The cargo on board the Marshal Vasilevsky sailed through the Northern Sea Route, Pacific Ocean, and Indian Ocean before arriving at GAIL's Dabhol terminal over the weekend, the ship-tracking data…

Berkshire Hathaway Energy's Cove Point liquefied natural gas (LNG) export plant in Maryland will shut for about three weeks of maintenance starting around Sept. 20, according to pipeline data and analysts.Officials at Berkshire Hathaway Energy on Wednesday confirmed the pipeline and compressor station maintenance will start on Sept. 20 but would not confirm the shutdown of the liquefaction plant until about the day before an outage.Traders noted the reduction in gas flows to LNG export plants should weigh on U.S.

Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world's biggest LNG markets - Japan, China, South Korea, and India - are all seeing a drop in demand. Asia's spot LNG prices dropped to $1.85 per million British thermal units (mmBtu) last week, the lowest ever, as cargoes have flooded the market. "At prices in the $2/mmBtu range ... some producers are getting close to not recovering cash costs of their operations.

India is expected to lead Asia’s oil and gas new-build trunk/pipeline length additions, contributing around 53 percent of Asia’s planned and announced pipeline length additions between 2019 and 2023.According to a report from GlobalData, India is expected to have new-build pipeline length of 23,360.6 km by 2023.Varun Ette, Oil and Gas Analyst at GlobalData, said: “In India, 42 new-build pipelines are set to start operations by 2023, out of which 29 are planned and remaining 13 are from early-stage announced pipelines. Jagdishpur–Haldia is the longest upcoming pipeline in the country with a length of 2,655.0 km. It is a natural gas pipeline expected to start operations in 2020.

India's state-run natural gas firm GAIL (India) Ltd has hired a liquefied natural gas (LNG) carrier on short-term charter from Japan's shipping giant Mitsui O.S.K. Lines (MOL).MOL, the world’s largest operator of LNG carriers, in its press release, did not disclose further details of the charter deal, including the duration of the contract, the name of the ship and the day rate.GAIL is the largest natural gas Company of India with approx. 11,400 Km of cross country existing trunk pipeline network and another 4,000 Km pipelines in advance stage of completion. GAIL is ranked no. 1 gas pipeline company in India and among the top gas utilities in Asia.GAIL currently holds a LNG / RLNG portfolio of about 14 MTPA from various long and short-term contracts.

The first contractual liquefied natural gas (LNG) cargo from Dominion Energy Inc's newly constructed Cove Point LNG export plant in Maryland in the United States left the facility on Monday, Thomson Reuters Eikon ship tracking data showed. The cargo is expected to act as a drag on spot LNG prices <LNG-AS> as it coincides with the resumption of exports of the fuel from the Papua New Guinea LNG plant, which had been shut following a powerful earthquake. The 160,000-cubic metre LNG tanker Adam LNG left Cove Point on Monday with a draft of 91 percent, suggesting it was full, according to the data. Its destination was not immediately clear. The facility has exported two commissioning or test cargoes already, which were sold to Royal Dutch Shell.

India's state-owned GAIL (India) Ltd on Friday said it would be annually receiving about 90 cargoes of liquefied natural gas (LNG) from Sabine Pass and Cove Point LNG terminals in the U.S.   GAIL has long-term deals to annually buy 5.8 million tonnes U.S. LNG. GAIL would be procuring about $2 billion worth of LNG per annum from USA from the fiscal year 2018/19.   GAIL on Saturday received its first consignment of LNG from the U.S. under the long-term deals at Dabhol terminal in western India. Reporting by Nidhi Verma

The Gemmata liquefied natural gas tanker left Dominion Energy Inc's Cove Point LNG export facility in Maryland early Friday, likely carrying the first export cargo from the facility that was expected to enter service in March, according to Reuters shipping data and energy traders. Officials at Dominion were not immediately available for comment. When the Gemmata docked at Cove Point earlier this week, analysts said it would likely be the first vessel to pick up fuel from the facility since the tanker came from Spain - a non-LNG exporting country - with less than a full cargo. Dominion has spent about $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay.

Gemmata could be the first vessel to pick up fuel from the facility since the tanker came from Spain - a non-LNG exporting country - with less than a full cargo, according to the shipping data. In addition to Gemmata, another vessel, the Methane Spirit, is also headed for Cove Point, according to the shipping data. Methane Spirit is located near Singapore and is expected to reach Cove Point around March 31. Once it enters service, Cove Point will be the second big LNG export terminal in the lower 48 U.S. Cove Point is designed to liquefy about 0.75 billion cubic feet per day (bcfd) of gas. One bcfd can power about 5 million homes. In December, Dominion said Royal Dutch Shell Plc would take the initial LNG cargoes from Cove Point.

The volume of gas flowing into the facility dropped from about 3.2 billion cubic feet per day on Wednesday to 2.8 bcfd on Thursday and a projected 1.5 bcfd on Friday, Reuters data showed. One bcfd is enough gas to fuel about five million U.S. homes. The plant had been operating near full capacity with about 3.2 bcfd of gas flowing in since mid-January when freezing water during a brutal cold snap forced the company to briefly reduce operations. Officials at Cheniere would not comment on the latest reduction. Earlier this week, the company said its operations were not affected following an order on Feb. 8 from federal regulators to shut two cracked storage tanks that leaked the super-cold fuel.

Methane Spirit, a liquefied natural gas tanker, said on Thursday it would arrive at Dominion Energy Inc's Cove Point LNG export facility in Maryland around March 31, according to Reuters shipping data. If correct, that could be the first vessel to pick up a cargo from the LNG facility, which Virginia-based Dominion said it expects to enter service in March. Dominion said it planned to spend $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay. The Methane Spirit is currently off the coast of Japan where it was expected to drop off a cargo from Australia, according to the shipping data. Once it enters service, Cove Point will be the second big LNG export terminal in the lower 48 U.S.

Dominion Energy Cove Point (DECP) has begun producing liquefied natural gas with its newly constructed natural gas liquefaction facility undergoing commissioning in Lusby, MD. All major equipment has been operated and is being commissioned as expected following a comprehensive round of testing and quality assurance activities. Shell NA LNG is providing the natural gas needed for liquefaction during the commissioning process and will off-take by ship the LNG that is produced. When commissioning is complete, DECP will produce LNG for ST Cove Point, which is the joint venture of Sumitomo Corporation and Tokyo Gas, and for GGULL, the U.S. affiliate of GAIL (India) LTD under 20-year take-or-pay contracts. DECP's liquefaction facility has a nameplate capacity of 5.25 mtpa of LNG.

Dominion Energy Inc said on Tuesday it had no plans to renegotiate any of its liquefied natural gas sales contracts, a day after India's oil minister said state-owned gas processor GAIL (India) Ltd was renegotiating deals with Dominion and another U.S. producer. "The characterization of contract renegotiations is false ... and Dominion Energy does not intend to renegotiate contract terms in the future," the company said in a statement. India's oil minister Dharmendra Pradhan told lawmakers on Monday that GAIL was renegotiating purchase contracts with Dominion Energy and Cheniere Energy Inc…

Dominion Energy has announced that the 750 million cubic feet per day (MMcf/d) Cove Point Liquefaction Project is in its final stages of construction, confirming with EIA that it is 95% complete as of August 2 and expected to be in-service in the fourth quarter of 2017. Located on the Chesapeake Bay in Lusby, Maryland, it will be the second large-scale liquefaction export facility to begin operations in the Lower 48 states and the first on the East Coast, said a press statement from U.S. Energy Information Administration. In addition to construction of the liquefaction terminal, which began in October 2014, this project includes the installation of additional compression at Dominion’s Pleasant Valley compressor station in Fairfax County…

State-run gas company GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies. It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive. The deal equates to around 5 percent of India's 2015/16 LNG imports and will support a government push to promote use of the cleaner fuel in fertiliser and the power sector, even as India's local gas production is falling.

GTT grants a License Agreement to Cochin Shipyard Ltd. GTT (Gaztransport & Technigaz) announced it has granted a License Agreement to Cochin Shipyard Ltd. (CSL) for the construction of LNG carriers using GTT's membrane containment systems. CSL, the first Indian shipyard to be licensed by GTT, received this license after completing the GTT qualification process including membrane tank mock-up installation. Commodore K Subramaniam, Chairman and Managing Director of CSL, declared, "Obtaining this technology has made a significant positive change to the technical competence and stature of this yard. Going forward, we feel that this technology would help the yard to tap the huge shipbuilding prospects in the LNG vessel segment.

ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint. With this pact, ABG has become the third Indian company to secure technology collaboration to build LNG carriers. The Shipyard is preparing for a tender set to be issued by GAIL (India) Ltd for hiring nine new LNG ships that will haul gas from the US from December 2017. “We have signed an agreement with GTT for technology transfer for building LNG ships,” a spokesman for ABG Shipyard said. GTT, one of the world’s top designers of containment systems, which does not own a yard…

Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to team up to bid for the GAIL (India) Ltd tender to build liquefied natural gas (LNG) ships. GAIL needs nine LNG carriers to haul natural gas from the US to India beginning December 2017. With this, Cochin Shipyard becomes the second local yard to secure a technology tie-up for LNG ships from one of the three top shipbuilders in South Korea, the world’s top shipbuilding nation. According to Express News Service, If Cochin Shipyard-Samsung wins the tender, the consortium is expected to secure orders for three ships, each costs around Rs 1500 crore.

GAIL (India) Ltd has signed a preliminary deal with Royal Dutch Shell for the potential sale of liquefied natural gas (LNG) supply sourced from its portfolio, made up of US production, says Reuters and local media reports. Gail, a Maharatna public sector company, has signed preliminary agreements with other companies also, one report said, adding that the talks with Shell were at an advanced stage. Shell's offer was among the most attractive received said sources. The Indian state-owned company revealed plans to sell 1 million tons per year in 2013. It planned to sell the volume over a period of five years. It had previously signed a supply deal with Cheniere for 3.5 mtpa of LNG over a period of 20 years.

As weak demand in India forces it to stall some contracted supply, GAIL India Ltd (GAIL) is in talks with Russia's Gazprom to delay and renegotiate a 20-year gas purchase deal undercut by low spot prices, reports Reuters. GAIL  and Gazprom had earlier signed a deal for two decades at a price linked to oil, adding to contracts to buy the fuel from GDF Suez SA and Gas Natural Fenosa this year. Accordingly, GAIL will buy 2.5 million tonnes (3.5 billion cubic metres) a year of liquefied natural gas from Russia’s monopoly gas exporter starting in 2018 and 2019. Shipments under the deal are linked to crude oil prices which are rising while gas prices are expected to stay subdued for longer as major new production plants in Australia and the United States start up.

India’s biggest shipbuilder under state control, Cochin Shipyard Ltd (CSL) is looking to file documents for its initial public offering (IPO) with the markets regulator by the end of this month, reports Live Mint. According to sources, CSL is all set to file documents for its IPO of Rs 600 crores ($90 million) with the Securities and Exchange Board of India (SEBI). The plan is part of its effort to expand and construct larger vessels and also undertake ship repair and fabrication. In addition, the government will sell 10% of its stake through the IPO. The work on the DRHP (draft red herring prospectus) is almost complete and it is expected to be filed before the end of this month.

Indian state-owned energy firm GAIL India Ltd has scrapped a USD 7 billion tender for hiring newly built ships to ferry LNG from US after bidders did not agree to 'Make-in-India' terms, says a report by PTI. Gail will now hire the ships from the global spot or current market to transport LNG. Gail, which was forced by the oil ministry to add the ‘Make-in-India’ condition to its tender, will now hire the ships from the global spot or current market to transport LNG, a senior official with knowledge of the matter said. Two Japanese bidders—a consortium of Mitsui OSK Lines (MOL)-Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui and Co.