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

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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.

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