China remained the world’s leading shipbuilder in the first eight months of the year, industrial data showed. According to the China Association of the National Shipbuilding Industry, the country’s shipbuilding output hit 23.94 million deadweight tonnes (dwt) in the period, accounting for 45.4 percent of the world’s total. New orders, another major indicator of the […]
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Vessel shortage makes soaring shipping costs a new energy threat
Ships are carrying liquefied natural gas, diesel and crude to Europe from further away than usual to replace Russian energy supplies, as the conflict in Ukraine shows no sign of ending. The impounded Iranian crude oil tanker, Grace 1, is silhouetted as it sits anchored off the coast of Gibraltar on Saturday, July 20, 2019. […]
Kuwait aims to boost natural gas output and ‘can raise’ oil production if required
Kuwait is planning to boost its natural gas production to cater to growing domestic demand and can also increase oil output if required in the market, according to senior executives. State-owned Kuwait Oil Company, a subsidiary of Kuwait Petroleum Corporation, is seeking to ramp up natural gas production, Reuters quoted KOC’s acting chief executive Khaled […]
India Forced To Buy LNG At Double The Price After Gas Supply From Russia Stops
LNG supply: After the cancellation of the delivery of the Liquefied Natural Gas (LNG) shipment from Russia, India has to pay double the price for it. Gail India Limited has procured several cargoes of Liquefied Natural Gas for delivery between October and November. The amount paid for this cargo is double as compared to the corresponding period of last year. According […]
Opinion: What India needs to do for growth of its natural gas market
New Delhi: India aims to increase the share of Natural Gas in its energy basket from the current 6.7% to 15% by 2030, which is an increase from 163 MMSCMD to over 500 MMSCMD. Such a major shift in the nation’s energy mix is possible only through the development of competitive and transparent gas markets. […]