Domestic natural gas production increased 19.5% to 2,896.7 million standard cubic metre (mscm) in December on a year-on-year (Y-o-Y) basis, mainly due to higher production from Reliance Industries (RIL) and BP\u2019s ultra-deep-water field in the KG-D6 Block of the Krishna Godavari basin on the east coast.<\/p>\n
The output had fallen 8.1% Y-o-Y to 28,670.6 mscm in FY21 but has subsequently increased 21.5% Y-o-Y to 25,673.9 mscm in the April-December period of the ongoing fiscal. The production also commenced on August 31 from state-run Oil and Natural Gas Corporation\u2019s (ONGC) U1B deep-water gas well located in KG-DWN 98\/2 block, which has an estimated peak production of 1.2 million standard cubic meter per day (mscmd).<\/p>\n
The rise in domestic production coincided with a substantial jump in international liquefied natural gas (LNG) prices, resulting in import dependency of natural gas reducing from 55.3% in April-November, 2020 to 47.1% in the corresponding period in 2021. In the first eight months of the fiscal, LNG import volumes fell 2.6% on a Y-o-Y basis to 21,854 mscm.<\/p>\n","protected":false},"excerpt":{"rendered":"
Domestic natural gas production increased 19.5% to 2,896.7 million standard cubic metre (mscm) in December on a year-on-year (Y-o-Y) basis, mainly due to higher production from Reliance Industries (RIL) and BP\u2019s ultra-deep-water field in the KG-D6 Block of the Krishna Godavari basin on the east coast. The output had fallen 8.1% Y-o-Y to 28,670.6 mscm in FY21 but has subsequently increased 21.5% Y-o-Y to 25,673.9 mscm in the April-December period of the ongoing fiscal. The production also commenced on August 31 from state-run Oil and Natural Gas Corporation\u2019s (ONGC) U1B deep-water gas well located in KG-DWN 98\/2 block, which has […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-462871","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/462871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=462871"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/462871\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=462871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=462871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=462871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}