Indian gas companies up on renewed global LNG recovery, says Investec

Petronet LNG

05/07/2024 09:41

** Shares of Petronet LNG  PLNG.NS , Gail GAIL.NS , Gujarat
State Petronet  GSPT.NS  Gujarat Gas  GGAS.NS  up between 1.7%
to 2%     
        ** Global LNG market set for a 40% surge in supply
capacity, representing fastest capacity growth in recent years,
said analysts at Investec Equities
  
    ** Liquefied natural gas (LNG) prices have dropped from
their highs following the Russia-Ukraine crisis in 2022,
benefiting India's gas value chain : Investec 
    ** Lower spot LNG prices, limited domestic supply growth
points to steady LNG imports for India
    ** PLNG, GGAS, GSPT and GAIL among top gainers on Nifty Oil
& Gas index  .NIFOILGAS 
    ** GAIL also among top gainers on Nifty PSE index
 .NIFTYPSE 
    ** PLNG, GGAS, GSPT and GAIL up 52%, 40%, 2% and 38%,
respectively so far this year
    ** Nifty Oil & Gas index has gained 31.3% so far this year

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))