Gas Utilities Industry Update - Second Wave Hits Gas Consumption Though Impact Lower Than First Wave: ICRA

The Mahanagar Gas Ltd. head office building stands in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Gas Utilities Industry Update - Second Wave Hits Gas Consumption Though Impact Lower Than First Wave: ICRA

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICRA Report

The second wave of Covid has hit gas consumption though impact is lower than the first wave.

However, in FY 2022 gas demand is expected to grow owing to commissioning of new fertilizer plants and offtake by CGD entities enabled by expansion in pipeline network and new LNG terminals

Though Liquefied Natural Gas prices have declined from the highs of January/February 2021, prices are elevated due to supply side disruptions and increase in crude oil prices.

However, prices are expected to have a downward bias owing to new liquefaction supply coming online in excess of incremental demand.

Click on the attachment to read the full report:

ICRA Indian Gas Utilities Industry Update.pdf

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