Gujarat Gas and Petronet LNG sign deal
Gujarat Gas has entered into a non-binding Memorandum of Understanding (MoU) with Petronet LNG Limited.
Browse the latest india lng news news and articles.
Gujarat Gas has entered into a non-binding Memorandum of Understanding (MoU) with Petronet LNG Limited.
The company expects to sell 1 million t of imported LNG through time swaps in 2018/19.
The importer is seeking a cargo for July, September and November.
Shares of Gujarat Gas Ltd. increased by as much as 1.3% after brokerage house Citi initiated coverage on the stock with a ‘Buy’ rating.
According to Reuters, the Indian Transport Minister has said that the country is aiming to reduce its oil products imports to zero, in favour of alternative fuels.
H-Energy is to begin importing LNG from Q3 2018 via a ship-based terminal leased from French group Engie.
Petronet LNG Limited's shares have risen by as much as 3.4% to a record high of 436 rupees a share.
India's Torrent Power has given notice to potential LNG suppliers that it wants to buy nine cargoes for delivery in 2018.
India has not ruled out the possibility of joining China, Japan and Korea to jointly buy LNG as part of efforts to extract better deals.
More Asian LNG buyers are trying to avoid taking the US supplies they signed up for just a few years ago in order to cut shipping costs.
Engie SA plans to sell its entire 10% holding in India’s biggest importer of LNG.
India may increase imports of LNG from the US at the right price.