LNG: India January LNG Consumption and Imports Unchanged on Month
Feb-14 13:29
India’s LNG consumption in January rose 2.8% on the year but remained almost unchanged from December at 6.072bcm, according to data from the Petroleum Planning and Analysis Cell cited by Bloomberg.
- Imports were also unchanged on the month at 3.047bcm but showed a rise of 7.6% on the year.
- Net production was steady relative to December at 3.025bcm but down 1.6% on the year.
- India aims to raise the share of gas in its energy mix to 15% by 2030.
- India’s gas demand growth to accelerate after 2027 to 94bcm by 2030, with price-sensitive buyers boosted by a loosening global LNG market, according to BNEF.
- Gas-fired power generation in India rose by around one-third though May-July 2024 amid summer heatwaves, IEA said. PPAC data shows a peak demand in 2024 of 6.719bcm in July.
- In a leaders’ joint statement, Modi and Trump vowed to lift energy trade, “to establish the United States as a leading supplier of crude oil and petroleum products and liquefied natural gas to India.”
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILTS: 10-Year Yields On Track For Largest Fall Since June
Jan-15 13:23
UK 10-Year yield falls 10bp following today’s CPI data, that would equate to the biggest one-day drop since June.
Fig. 1: One-Day Net Change In 10-Year Gilt Yield
Source: MNI - Market News/Bloomberg
EURIBOR OPTIONS: Call spread buyer
Jan-15 13:20
ERM5 98.125/98.50cs, bought for 2.25 in 10k.
SECURITY: Hamas Gives 'Green Light' To Gaza Creasefire Deal, Jerusalem Post
Jan-15 13:18
Reuters, Kan, Axios, and the Jerusalem Post reporting that Hamas has "given a green light" to a hostage-for-ceasefire deal in Gaza, according to Israeli officials, with a final deal expected by Wednesday night or Thursday.
- Barack Ravid at Axios notes on X: "A third Israeli official tells me: "There is a breakthrough in the hostage deal negotiations in Doha. Hamas military leader in Gaza Mohammed Sinwar gave his Ok""
- Ravid noted, prior to the above comme: "[An] Israeli official tells me: We are optimistic there is going to be a hostage and ceasefire deal by tomorrow at the latest"
- Amichai Stein at Kan reports: "Israeli officials tell [Jerusalem Post]: Hamas gave a green light to go ahead with the deal - "significant progess" and an attempt to reach a final deal by tonight or tomorrow"
- As noted in previous bullet, the risk of ultranationalist hardliners in the Israeli gov't scuppering a deal is believed to have reduced significantly, de-risking one of the primary threats to the durability of a deal. See: ISRAEL: Efforts To Reach Gaza Deal Resume, Risk From Israeli Hardliners Shrinks
Figure 1: Key Terms of Hostage-for-Ceasefire Deal (Jerusalem Post)
