India’s LNG imports continue to rise

India’s imports of liquefied natural gas (LNG) increased 18.6 percent in October as compared to the same month a year ago, according to the data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).

The country imported 2,262 million metric standard cubic metres (mmscm) of LNG in October, compared with 1,908 mmscm in the same month last year, PPAC said.

For the April-October period, India’s LNG imports stood at 14,915 mmscm or 25 percent higher as compared to the same period in 2015.

India’s LNG imports have been rising steadily this year boosted by low prices of the chilled fuel with the exception of July when the country’s LNG imports marked the first and the only monthly decline.

Costs of importing LNG into India have dropped sharply in 2016 after India’s Petronet LNG signed a revised long-term contract with RasGas of Qatar. The world’s fourth largest LNG importer, India could save up to $3 billion due to the revised deal.

India imports LNG via Petronet’s Dahej and Kochi LNG terminals, Shell’s Hazira plant, and the Dabhol terminal operated by Ratnagiri Gas and Power.

To remind, Petronet LNG recently said it had completed the expansion of its Dahej LNG import facility raising the terminal’s capacity from 10 mtpa to 15 mtpa.

 

LNG World News Staff

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