India’s LNG imports slightly down in February YoY

Kochi LNG storage tanks (Image courtesy of Petronet LNG)

India’s imports of liquefied natural gas (LNG) decreased 1 percent in February on a yearly basis, logging the first monthly drop since August 2017, according to the latest data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).

India imported 2.11 billion cubic meters of LNG or about 1.56 million tonnes last month.

The costs of these imports were at $0.8 billion compared to $0.7 billion in February last year, the PPAC data shows.

India’s domestic natural gas production dropped 1.5 percent to 2.48 Bcm.

In the April-February period, India imported 23.9 Bcm or about 17.6 million tonnes of LNG, a rise of 6.1 percent on the year.

India is planning to more than double the share of natural gas in its energy mix to 15 percent by 2022 from about 6.5 percent now.

The country reportedly aims to build additional eleven LNG import terminals to cater for the upcoming demand.

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

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Posted on March 21, 2018 with tags .

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