Latest news with #energyimports
Reuters
16-07-2025
- Business
- Reuters
India's GAIL in initial talks for long-term LNG deal with Alaska LNG, sources say
NEW DELHI, July 16 (Reuters) - India's state-run GAIL ( opens new tab is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said. The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty U.S. tariffs. GAIL's discussions are preliminary as the landed cost of LNG will be a crucial deciding factor for the deal, the sources said. Glenfarne said last month that 50 firms had formally expressed interest in contracts with Alaska LNG. The project, championed by U.S. President Donald Trump, has been stuck on the drawing board for more than a decade. GAIL did not respond to Reuters email seeking comment on the talks. "Glenfarne does not comment on or confirm individual commercial negotiations, but Alaska LNG's growing commercial momentum reflects the project's competitive economic and geostrategic advantages," it said in an emailed statement to Reuters. India, the world's fourth-largest LNG importer, aims to increase the share of gas in its energy mix to 15% by 2030, up from about 6% currently, to reduce its carbon footprint. GAIL plans to increase the capacity of its 5 million metric tons per year Dabhol LNG terminal to 6.3 million tons per year by mid-2027 and to 12.5 million tons per year by 2031-32. Earlier this year GAIL invited initial bids from companies as it seeks to buy equity in an existing LNG project or a new project that would be commissioned by 2030 at the latest. The $44-billion Alaska LNG project could export up to 20 million metric tons per year of the superchilled gas. Alaska Governor Mike Dunleavy said in March the project could start exporting LNG by 2030. Glenfarne expects to make a final investment decision in the fourth quarter of this year on the first phase of the project - a 765-mile (1231-km) pipeline to deliver gas from the state's far north to its Anchorage region. Thailand's state-owned oil and gas giant PTT ( opens new tab last month signed a 20-year agreement to buy 2 million tons per year of LNG from the Alaska LNG project. Others, including South Korea and Japan's top power producer JERA, are awaiting clarity on the financing and cost of the project. GAIL has contracts to buy 15.5 million tons annually of LNG including 5.8 million tons from the United States.
Bloomberg
11-07-2025
- Business
- Bloomberg
Hungarian Oil Company Comes Up With an Unlikely Pipeline Plan
Hi, this is Zoltan Simon in Budapest. Welcome to our weekly newsletter on what's shaping economics and investments from the Baltic Sea to the Balkans. You can subscribe here. Hungarian Prime Minister Viktor Orban is campaigning for re-election by vowing to block Ukraine's European Union accession and by railing against Brussels for its support for Kyiv. He also opposes a push to end Russian energy imports by 2027. That makes oil importer Mol's plan to wean itself off Russian crude all the more unusual.
Zawya
08-07-2025
- Business
- Zawya
India aims to import about 10% of its cooking gas from US from 2026, say sources
NEW DELHI - India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India's import of U.S. oil has more than doubled this year, data obtained from sources showed. "We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG," said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. "We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude," he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes. (Reporting by Nidhi Verma; Editing by Tony Munroe and Kate Mayberry)
Yahoo
08-07-2025
- Business
- Yahoo
Exclusive-India aims to import about 10% of its cooking gas from US from 2026, say sources
By Nidhi Verma NEW DELHI (Reuters) -India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India's import of U.S. oil has more than doubled this year, data obtained from sources showed. "We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG," said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. "We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude," he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes.
Zawya
25-06-2025
- Business
- Zawya
Egypt to import LNG to cover demand from July 2025 to June 2026, cabinet says
Egypt plans to import liquefied natural gas to cover demand from July 2025 to June 2026, the Egyptian cabinet said in a statement on Wednesday, as it ramps up purchases to meet power demand despite strained government finances. Reuters reported on June 12 that Egypt has reached agreements with several energy firms and trading houses to buy 150 to 160 cargoes of liquefied natural gas to complement its domestic production and pipeline imports from Israel, according to industry sources. Egypt's gas production has been on a downward trend in the past few years, reaching as low as 3,485 million standard cubic metres in April 2025, compared to a peak of 6,133 million standard cubic meters in March 2021, according to data from the Joint Organisations Data Initiative (JODI). The North African nation has had to resort to load shedding, raising imports from Israel, and seeking foreign funding for LNG shipments. Israeli gas currently accounts for about 15-20% of Egypt's consumption, JODI data shows. When two of Israel's three gas fields, Leviathan and Karish, were shut down nearly two weeks ago due to the Iran-Israel conflict, Egypt was forced to stop supplying gas to petrochemical and fertilizer factories. More imports come in the form of liquefied natural gas for regasification in Egypt. But while Egypt currently has three floating storage and regasification units (FSRUs) to carry out that process, only one is operational. (Reporting by Momen Saeed Atallah, Writing by Nayera Abdallah. Editing by Jane Merriman, Alexandra Hudson)
