GAIL (India) Ltd is scouting for long-term gas import deals and hopes to sign one contract shortly to make up for disrupted supplies from a former unit of Russian energy giant Gazprom, its head of finance said on Monday.
is scouting for long-term gas import deals and hopes to sign one contract shortly to make up for disrupted supplies from a former unit of Russian energy giant Gazprom, its head of finance said on Monday.in its December quarter net profit as it transmitted less gas locally due to a reduction in liquefied natural gas supply from a deal with Gazprom Marketing and Singapore .
"The Indian economy is needing more and more gas. Even if GMTS had not happened, we were in the market for sourcing gas. Yes, but GMTS circumstances have forced us more," he said.At the time, GMTS was a unit of Gazprom Germania, now called Sefe, but the Russian parent gave up ownership of Sefe after Western sanctions over Russia's invasion of Ukraine. Sefe has halted supply to GAIL since May.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India's GAIL Q3 profit slumps on supply hitGAIL (India) Ltd , the country's largest gas distributor, reported an almost 93% slump in quarterly profit on Monday, hit by lower gas sales due to supply disruptions.
Read more »
Russian army headed by 'totally incompetent people,' ex-Russian VP warnsAlexander Rutskoy also took aim at Russian President Vladimir Putin, calling him a 'laughingstock' for his lack of strategic planning.
Read more »
Japan's JERA raises FY22/23 earnings estimate on lower LNG procurement costJERA, Japan's biggest power generator, said on Monday it now sees a net profit of 100 billion yen ($769 million) for the year to March 31, against its previous forecast of a net loss of 200 billion yen, due to lower-than-expected fuel procurement cost.
Read more »
Shell CEO in first changes combines LNG, upstream operationsShell will combine its oil and gas production and liquefied natural gas (LNG) divisions as part of CEO Wael Sawan's first changes since taking charge of the energy giant earlier this month.
Read more »
Shell CEO's first changes combine upstream and LNG operationsShell will combine its oil and gas production and liquefied natural gas (LNG) divisions as part of broader changes under new CEO Wael Sawan, which the company said could result in some job cuts.
Read more »
Upstart Indian Shipper Helps Get Russian Oil to MarketRussia is keeping its oil moving, defying fears that sanctions would lead to a plunge in exports, with the help of a number of international startups plying new trade routes to mostly Asian buyers
Read more »