Laugfs Gas announces massive price drop in domestic LPG Laugfs Gas PLC yesterday announced a substantial reduction in the prices of its Laugfs-branded domestic liquefied petroleum gas (LPG), effective midnight. As of today, the price of a 12.5kg domestic cylinder, under the Laugfs brand, will be reduced by Rs.625, to an MRP of Rs.4,115, within the Colombo district. The prices in the other areas and pack sizes will be adjusted accordingly. “This significant price revision comes as a testament to several positive developments and factors contributing to the favourable economic climate,” Laugfs Gas said in a statement. It went on to acknowledge the supportive government policies, including the appreciating value of the Sri Lankan rupees against the US dollar, reduction in interest rates and availability of ample foreign exchange, facilitating the opening of letters of credit. Since the expiration of the trade monopoly held by multinational Shell Gas in 2000, Laugfs Gas PLC has emerged as the sole private sector player in the highly dynamic LPG industry in Sri Lanka. Laugfs Gas PLC operates one of the largest LPG import and export terminals in the Indian Ocean region at the Hambantota Port, capable of handling 30,000 m/tonne shipments. This strategic advantage enables the company to optimise LPG costs, thereby facilitating this massive price reduction. Moreover, Laugfs Gas PLC maintains a fleet of LPG vessels, solidifying its position as the only Sri Lankan LPG ship-owning company. Leveraging its robust infrastructure and logistic capabilities, the company has emerged as a leading LPG trader in the Asian region. Looking ahead, Laugfs Gas PLC said it is committed to passing on these advantages to the Sri Lankan LPG consumers Source: https://lnkd.in/gNgTtAgy #LPGasPrice #FinanceInsights #FinanceNews
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A recent acceleration in pipeline gas imports and robust domestic production growth have squeezed the immediate space for additional LNG imports into China, but uncertainty over gas exports from Russia and Central Asia could provide an opening for Chinese spot cargo procurement later this year. #energyindustry #oil #gas #oilandgas #oilgas #oilandgasindustry #energynews #LNG https://lnkd.in/ebtK59DY
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The National Board of Revenue (NBR) has recorded a 45.76 per cent growth in VAT revenue collection from liquefied petroleum gas (LPG) cylinders at production and trading levels as natural gas supply crunch has boosted its demand in the country. #trading #gas #growth #petroleum #naturalgas
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businesspostbd.com
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📢 Imported #LNG prices keep rising⬆ despite increase in #imports Despite a ⬆surge in imports, imported LNG prices in #China continued to rise, largely due to LNG terminals holding back on sales and a reduction in domestic LNG #supply, as reported by OilChem. During the week ending December 7, China's 16 LNG terminals received 26 cargoes, totaling 1.76 million tonnes of LNG, marking a 17.45% increase⬆ from the previous week's 1.50 million tonnes. Yet, imported LNG #prices climbed by 6.8% from the prior week to Yuan 6,064.6/t, according to OilChem data. This uptrend was partly influenced by a shortage of feed #gas supply, which led to decreased LNG #production in Northwest China and Inner Mongolia, the primary LNG-producing regions. This dip⬇ in domestic LNG production helped bolster the market for imported LNG. On the other hand,..... 👇 https://www.mysteel.net/news/energy/5045700-imported-lng-prices-keep-momentum-despite-mounting-imports #energy #gastrading #naturalgas
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India's LNG imports surged in February, indicating a growing demand for natural gas in the region. The increase in imports highlights the country's efforts to diversify its energy sources and meet the rising energy needs of its population. This trend underscores the importance of LNG in India's energy mix and its role in ensuring energy security. #LNG #EnergySecurity
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https://lngprime.com
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Head Corp Comm |Author and researcher in Geopolitics of Foreign Aid and Petroleum Economics l All views are personal
GAIL’s LNG portfolio is deep seeded in the international market. While GAIL is a gateway for LNG in domestic market, its strong international position with contemporary structures of LNG trade, gives an edge to evolve as a significant LNG player at the World scale. Indian natural gas demand hovers around 165 MMSCMD and 50 % is imported portion. India’s growing demand of LNG and world’s preferred trend towards LNG consumption has a huge potential for arbitrage that the company envisages contributing in its revenue stream.
Shri Sandeep Kumar Gupta, CMD, GAIL spoke to The Economic Times, about the company's ambition to become a dominant global LNG trader and mirror India’s commitment to diversifying its energy portfolio. Click on the given link to read the detailed article - https://bit.ly/4aNg94c . . #GAIL #GAILIndia #EnergizingPossibilities #lng #economictimes #ambition #global
GAIL plans to expand LNG trading business to global markets
economictimes.indiatimes.com
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Private Investigator, Freelance Intelligence Analyst, Security Consultant, AML Analyst, Risk Management OSINT Geopolitical
🇪🇺Decline in EU LNG Imports: A Seven-Month Low EU gas supplies sourced from LNG terminals have decreased to their lowest in seven months, influenced by reduced demand and an uptick in mainline gas supplies, which have impacted LNG imports. Reports from Gas Infrastructure Europe indicate that supply levels at EU LNG hubs dipped to 2,789 GWh/d on May 18 and slightly increased to 2,797 GWh/d on May 19. This is the lowest recorded in the region since the supply was at 2,710 GWh/d on October 8. Data from Commodity Insights as of May 21 shows that Europe imported a total of 5.5 million tons of LNG in May this year, marking the lowest import levels since September, when the imports had totaled 5.4 million tons from September 1 to 21. This reflects a 32% decrease from the corresponding period last year. In terms of mainline gas, Gassco, the offshore pipeline operator, reported that total deliveries from the Norwegian continental shelf were at 9.61 billion cubic meters in April, with an average daily delivery of 320 million cubic meters. #EU #LNG
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Specialised in LNG/ CLNG Natural Gas Plant Operations and Project Management-Vendor Management #Talks about #Energy #LNG #CNG #CGD #naturalGas #Hydrogen
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China’s expected demand for spot LNG continues to be very uncertain this year, as market sources expect a general recovery in gas consumption in 2024. Traders from state-run gas majors believe that spot LNG will be crowded out by an increase in alternative supplies. However, second-tier importers disagree, as the current bearish global LNG price environment gives the chance for more opportunistic buying from traders... Learn more >> https://bit.ly/3TvJ2vt #China #LNG #naturalgas #natgas #trading #lngtrading #spotlng
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energyintel.com
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CHINA LNG: While state-owned majors are bearish about spot LNG demand in China this year given rising domestic gas production as well as pipeline gas imports and long-term LNG imports, the country's second-tier buyers expect robust spot buying driven by the weak global spot LNG prices, which provide the chnace for more opportunistic cargo purchases #LNG #LNGTrading #natgas #energymarkets #commodities
China’s expected demand for spot LNG continues to be very uncertain this year, as market sources expect a general recovery in gas consumption in 2024. Traders from state-run gas majors believe that spot LNG will be crowded out by an increase in alternative supplies. However, second-tier importers disagree, as the current bearish global LNG price environment gives the chance for more opportunistic buying from traders... Learn more >> https://bit.ly/3TvJ2vt #China #LNG #naturalgas #natgas #trading #lngtrading #spotlng
China's Spot LNG Market Comeback Remains Elusive
energyintel.com
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Frankly, I always felt that Europe is over-analysed and losing its relevance for LNG - so thankful to see more people paying attention to China. Two of the best kept secret in LNG - the city gas model (vs national gas utility model) and trucked LNG - are reasons for the breakneck, double digit growth of natural gas consumption between 2000 and 2020. These two business models have a lot of relevance for global south countries
China’s expected demand for spot LNG continues to be very uncertain this year, as market sources expect a general recovery in gas consumption in 2024. Traders from state-run gas majors believe that spot LNG will be crowded out by an increase in alternative supplies. However, second-tier importers disagree, as the current bearish global LNG price environment gives the chance for more opportunistic buying from traders... Learn more >> https://bit.ly/3TvJ2vt #China #LNG #naturalgas #natgas #trading #lngtrading #spotlng
China's Spot LNG Market Comeback Remains Elusive
energyintel.com
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