India turns to expensive foreign gas to ease its power crisis
NEW DELHI: Sweltering heat and ongoing blackouts are forcing India’s liquefied natural gas importers to top up with expensive shipments.
Torrent Power Ltd. and GAIL India Ltd. bought LNG for May delivery in the last week, with the fuel set to be used to help power plants boost generation, according to traders with knowledge of the matter. The utilities paid about triple the normal spot rate for this time of year, as Russia’s invasion of Ukraine exacerbates a global supply crunch.
据了解此事的交易商称，Torrent Power Ltd.和GAIL India Ltd.上周购买了5月份交付的液化天然气，这些燃料将用于帮助发电厂提高发电量。
The purchases are unusual for India’s cost-sensitive power generators, which tend to avoid buying LNG at such high rates. They illustrate how a domestic coal shortage is forcing the South Asian nation to look for alternative fuels no matter the price, further elevating international demand.
While natural gas makes up just a small portion of India’s power mix, a scarcity of coal and hot weather has triggered scheduled blackouts, threatening to upend the economy. Gas was used to produce about 4% of the nation’s electricity in 2020, versus 71% for coal, according to BloombergNEF.
GAIL is seeking at least one more shipment for late-May, the traders said, adding that several other Indian firms are inquiring about cargoes in the bilateral market.
The heat wave also prompted neighboring Pakistan to purchase the nation’s most expensive shipment of the fuel ever to avoid blackouts during the Eid holiday this week. Cash-strapped Pakistan recently released a tender seeking to purchase another two cargoes for June.
“This time of year is when South Asia, namely India and Pakistan, have their hottest weather in advance of the monsoon,” said Jason Nicholls, a meteorologist at AccuWeather Inc. “These areas will likely continue to be favored for heat waves until the monsoon rains arrive in June and July.”
India should buy 75% crude oil, gas of it's total need from Russia.It will be beneficial for people of India and also reduce the import bill of government and thus good for economy of India.Also do trade in local currencies, barter system, gold.This way value of dollar will decrease, value of Rupee will increase,import bill become more lower,sanctions will be useless
Remove electricity from freebies offered by Delhi and other UTs/states immediately. Do not punish honest tax payers of the country to support few useless and otherwise nonproductive political parties.
Coal minister must be sacked.How can you use imported gas for power generation.This is when you have the highest coal reserves in the world.Coal output has reduced instead on increasing,poor planning,stupid government
Stupid Govt, poor planning.one of the largest coal reserves in the world coal output must be increased.Govt says adequate reserves of coal,but they should be in the power housed and thermal plants and not in the mines.Wake up you stupid irresponsible Govt
In my opinion India should go for load shedding of daily 2 hrs in every city of India including Mumbai Delhi etc. Switch off lights on all Flyovers after 0.01hrs. present need is to reduce consumption of electricity.
Modi ke raj mein India has become Sooperpower without power
Yoga N Mani
The basic problem that is causing blackouts is not lack of capacity to generate power and meet demand fully. The problem is also not lack of money to buy Fuel Oil to run Power Plants.
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All oil and natural gas resources of the nation are with Reliance Industries. All these national assets should be immediately nationalized.
No free electricity to anyone.
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This government is like a barber doing a complicated heart surgery and bragging he is the best...
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Indians should get ready prices of everything is going to be double in next few months.
MMS WAS RIGHT. THE INTELLIGENT CLASS OF INDIANS WILL THANK HIM ONE DAY.
Why don't government tap the solar energy?
This war is going to sink the global economy.
Vote for Kejriwala and get free: gas and electricity.
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Golden opportunity for opposition to target Modi and Central government.
Fekuchand is the biggest illiterate leader of India, dont understand why RSS could not pick a literate person. Seems that there is a dearth of literate people in BJP.
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all free power should immediately stop
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does Delhi and Punjab where electricity is free responsible for high consumption where AAP is ruling. ?
India will do everything other than asking Reliance Industries to release oil from the oilfields which they have occupied.