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Latest issue of The LNG Markets
Highlights of Issue :

A global rebound from Covid-19 combined with extraordinary demand for winter LNG cargoes, lowest EU gas storage level in five years and gas supply trouble in the US- first due to hurricane Ida and now hurricane Nicholas has pushed natural gas and LNG prices to its record high level.
Early in September, Hurricane Ida disrupted sizable feed gas supply in the US and now on Sep 14 hurricane Nicholas knocked out Freeport LNG liquefaction facility on the Texas Gulf Coast.

Kamlesh Trivedi



Trade Overview
Steep rise in winter prices feared by Asian European importers

Indian Oil to form joint venture with Petronas of Malaysia for LNG terminal

State-run oil refiner Indian Oil Corporation (IOC) announced last week that it is expanding its joint venture (JV) with Malaysia’s state-run Petronas to focus LNG plants. IOCL said that it is expanding its joint venture with Petronas to include building LNG terminals, fuel retailing, as well as gas distribution, according to S.M. Vaidya, Chairman, Indian Oil.
The refiner imports some LPG through Indian Oil Petronas Private Limited – its equal joint venture with the Malaysian firm. Indian Oil seeks to partner with global companies as it shifts focus to cleaner energy areas such as hydrogen.
The integrated oil company is investing Rs 1 lakh crore to raise its refining capacity by 25 million tonnes a year in the next two-five years, and maximise yields of chemical products.
India is the world’s fourth-largest LNG importer and seeks to raise the share of natural gas in its energy mix to 15 per cent by 2030, from the current 6.2 per cent to reduce emissions.

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