India’s imports of liquefied natural gas (LNG) dropped almost 10 percent in June on a yearly basis, according to the latest data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).
India imported 1.76 billion cubic meters of LNG or about 1.32 million mt last month. The costs of these imports were at $0.5 billion, the PPAC data shows.
The country’s LNG imports fell for the second straight month after posting a decline of 9.6 percent in May.
On the other side, domestic natural gas production continued to rise in June. India’s natural gas production increased slightly more than 6 percent to 2.75 Bcm, PPAC said.
India has boosted its use of the chilled fuel since the beginning of last year on the back of lower prices after the country’s largest importer, Petronet LNG signed a revised long-term contract with Qatari LNG producer RasGas.
The country’s appetite for LNG is expected to surge over the coming years driven by the demand in the gas-to-power sector and a push by the government to increase the usage of gas in the country’s overall energy mix.
India currently imports LNG via Petronet’s Dahej and Kochi LNG terminals, Shell’s Hazira plant, and the Dabhol terminal operated by Ratnagiri Gas and Power.
LNG World News Staff