Due to the acute shortage of coal in India, power plants can generate electricity using liquefied natural gas (LNG).
In the midst of scorching heat and a severe power crisis in the country, the government has finally decided to buy Liquefied Natural Gas (LNG) at three times higher price. This decision was made in May by Torrent Power Limited and GAIL India Limited.
It’s possible that another cargo will need to be ordered by the end of the month or the first week of June. Due to the acute shortage of coal, electricity can be generated using this LNG in the power plant. In fact, the country had to take this decision under compulsion.
According to experts, the huge increase in LNG prices due to the Russo-Ukraine war has affected the whole world. LNG is now selling at three times the price. Due to the lack of coal in India, the pace of electricity generation has slowed down, so the government has made all efforts to increase the supply of coal.
According to Bloomberg, the demand for electricity is setting new records in the summer season, so LNG has to be bought at this increased price.
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Due to a coal scarcity, power generation has been impacted.
Experts say that coal is the largest use of coal to generate electricity in India and 71 percent of the total electricity comes from coal-fired power plants. This year, the country is experiencing a coal shortage, which has hampered electricity generation.
Now many Indian companies are gathering information about LNG prices around the world. Energy sector experts say that there is also a power crisis in Pakistan and it has also bought LNG at expensive prices. This step has been taken so that people do not face any problems on the occasion of Eid.