Latest news with #GAILIndia
The Hindu
4 days ago
- Business
- The Hindu
With breakwater in place, GAIL's Dabhol LNG Terminal turns all weather port, receives first vessel in monsoon
State-owned GAIL India's Dabhol LNG Terminal received its first liquefied natural gas cargo during monsoon on the back of commissioning of a crucial breakwater. With the commissioning of the breakwater, the terminal has been designated an all-weather port. It is a critical transformation ensuring safe and reliable LNG operations even during the Southwest monsoon, which traditionally is a challenging period for marine logistics on India's West coast, GAIL said on Friday. It said this announcing that the first LNG vessel was successfully berthed and discharged at the Dabhol LNG Terminal following completion of the breakwater project. GAIL Bhuwan, the vessel, was received on June 2 by CMD Sandeep Kumar Gupta and Director (Marketing) Sanjay Kumar, marking commencement of uninterrupted, round-the-year operations at the terminal, the natural gas transmission and marketing company said. With regasification capacity of 5 million tonnes per annum, the LNG Terminal serves as a vital link in India's gas supply network via the Dabhol-Bangalore and Dabhol-Panvel cross-country pipelines. Unlike conventional land-connected structures, Dabhol is an island breakwater showcasing a feat of advanced marine engineering and involving extensive collaboration among multiple stakeholders. The ambitious project posed complex technical challenges and required innovative, customised solutions, GAIL said. Expansion on cards The commissioning of the facility is expected to significantly enhance vessel accessibility and improve capacity utilisation at the terminal, bolstering energy infrastructure and supply reliability. GAIL is considering expanding the terminal's capacity to 6.3 MTPA in the first phase over next three years. Once expanded, the terminal is expected to handle up to 100 LNG cargoes annually, something important in the context of India's target to increase natural gas consumption to 15% in its energy mix from existing 6%.
Reuters
4 days ago
- Business
- Reuters
India's GAIL sells LNG cargo as early monsoons cause weak power demand, say sources
SINGAPORE, June 6 (Reuters) - GAIL (India) Ltd ( opens new tab has re-sold one liquefied natural gas (LNG) cargo this week, said three market sources on Friday, as the state-run firm's storage tanks for the fuel are full amid weak power demand in India. Fewer LNG imports by GAIL, the country's largest gas distributor, could reduce India's overall appetite for the super-chilled fuel. India is the world's fourth largest LNG buyer, importing about 26 million metric tons last year as it goes through rapid urbanisation and industrialisation and to meet growing power demand. However, GAIL's LNG tanks are filled to the brim as power demand slumped due to cooler weather from the monsoon season, leading the company to sell its LNG cargo, said two of the sources. GAIL did not immediately respond to a request for comment. The three sources did not identify which cargo GAIL sold, but shiptracking data shows two LNG vessels controlled by GAIL diverting from their routes this week. LNG tanker Gail Urja, which is currently in the southern Atlantic Ocean, was en-route to reach the Dahej terminal in India on June 21 before it made a U-turn on June 5 to head to the Gate LNG terminal in the Netherlands, Kpler data showed. The vessel loaded LNG at Cove Point, Maryland, in the United States on May 21-22, Kpler and LSEG data showed. GAIL has a 20-year deal to lift 2.3 million metric tons per annum of LNG from Cove Point. It typically takes about four weeks for LNG tankers to travel from Cove Point to India. Meanwhile another LNG tanker, Grace Emilia, has changed its course several times around Reunion Island and Mauritius since June 2, the data showed. The vessel is now heading towards Asia. India's weather office had forecast an above-average monsoon season for the second straight year in 2025, with annual rains arriving at their earliest in 16 years. The early monsoons had alleviated sweltering temperatures nationwide at the end of summer, with a sharp drop in temperatures cutting electricity consumption and briefly pushing down prices to near zero on power exchanges. Increased generation from hydropower and nuclear had also led to a decline in natural gas-fired power output, which in May fell at the steepest rate in nearly three years.
Reuters
4 days ago
- Business
- Reuters
GAIL India's Dabhol LNG terminal goes all-weather with first monsoon cargo
June 6 (Reuters) - GAIL (India)'s ( opens new tab Dabhol LNG Terminal in the western state of Maharashtra received its first liquefied natural gas (LNG) cargo during the traditionally disruptive monsoon rains on June 2, the gas transporter said on Friday. This marks the start of year-round operations at the terminal, the company said in a press release. The commissioning of a breakwater facility — structures that protect a port against high tides — at the terminal last month allows ships to dock safely and allow it to function as an "all-weather port". Earlier, the terminal used to be shut for four months during the rainy season. GAIL expects the breakwater to "significantly enhance vessel accessibility and improve capacity utilization at the terminal". The company plans to expand the facility's capacity from 5 to 6.3 million-metric-tonnes-per-annum in the next three years, allowing it to handle up to 100 LNG cargoes annually, it added. GAIL shares were last up 0.3% on Friday.
Mint
13-05-2025
- Business
- Mint
Maharatna PSU GAIL India Q4 consolidated net profit at ₹2,505.61 crore rises 1% year on year: Declares Dividend
Q4 Results; Maharatna PSU GAIL India Q4 consolidated net profit at ₹ 2,505.61 crore rises 1% year on year compared to ₹ 2,474.31 crore in the year ago quarter GAIL declared dividend The consolidated revenue from Operation for GAIL India at ₹ 36,551.15 during the January to March 2025 quarter, while rose 11.3% compared to ₹ 32,833.24 in the January- March 2024 quarter, the consolidated net profit at ₹ 2,505.61 crore could grow only 1% year on year compared to ₹ 2,474.31 crore in the year ago quarter. The same was in the back of lower Gas prices The Natural Gas Marketing segment that contributed more than 80% to overall revenues during Q4FY25 however saw segmental Earnings before interest Tax or EBIT at ₹ 1,506.72 come slightly lower than ₹ 1,526.83 crore in the year ago quarter The Petrochemical segment also reported a EBIT loss of ₹ 134.10 crore during the Q4FY24 compared to profit of ₹ 533.41 crore in the year ago quarter. The Low oil prices are expected to have hit the GAIL's petchem division, with LPG segment realizations also facing downside pressure. The LPG and Liquid Hydrocarbon segment reported segmental EBIT at ₹ 291.97 during the March' 2025 quarter declined compared to ₹ 326.59 crore in the year ago quarter.. Board of the Company has recommended the payment of Final Dividend @ 10% (Re. 1.00 per equity share) on the paid-up equity share capital of the Company, subject to approval of shareholders in the ensuing Annual General Meeting. The record date for payment of Final Dividend payment date is yet to be intimated by the company GAIL India share price had opened at ₹ 188.75 on the BSE on Tuesday , lower than the previous days closing price of ₹ 187.90. The GAIL India share price ended at ₹ 183.95, 2.05% lower compared to the previous days closing price.
Reuters
13-05-2025
- Business
- Reuters
GAIL (India)'s quarterly profit falls more than expected on lower gas margins, cost pressures
May 13 (Reuters) - Gas distributor GAIL (India) ( opens new tab posted a bigger-than-expected fall in quarterly profit on Tuesday, dragged by lower gas marketing margins and higher costs. GAIL, India's top natural gas distributor by market share, said its net profit after tax fell 5.9% to 20.49 billion rupees ($240.1 million) for the quarter ended March 31. Analysts, on average, had expected profit to fall 3.1% to 21.13 billion rupees, according to data compiled by LSEG. The gas marketing segment, which generates most of the company's revenue through wholesale trading and natural gas distribution, posted a rise of 11% to 316.03 billion rupees in revenue. Analysts noted that trading margins were lower in the quarter as GAIL switched to long-term LNG contracts with city gas distributors, replacing short-term market sales. LPG margins are also down due to reduced availability of government-regulated feedstock, they added. Rising costs in its liquefied petroleum gas (LPG) and liquid hydrocarbon businesses added to the pressure, with overall expenses climbing 11.4%. Revenue from its natural gas transmission segment, in which GAIL holds a 70% market share in the country, fell 2.6%. The company's revenue from operations rose by 10.4% to 357.07 billion rupees. Shares of GAIL fell 1.8% after the results. ($1 = 85.3360 Indian rupees)
