India’s LNG imports down 2.9 pct in December

India’s imports of liquefied natural gas (LNG) dropped 2.9 percent in December as compared to the same month a year ago.

This is the second monthly LNG import decline in 2016 as the country’s imports in July were also down 3.8 percent year-on-year.

India imported 1.90 billion cubic meters or about 1.41 million mt of LNG in December, as compared to 1.96 Bcm in the same month in 2015, according to the data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).

For the April-December period, India’s LNG imports rose 19.9 percent year-on-year to 18.7 Bcm or about 13.87 million mt of LNG, PPAC data shows.

India’s LNG imports have been rising steadily this year boosted by low prices of the chilled fuel.

Costs of importing LNG into India have dropped sharply in 2016 after the country’s largest importer, Petronet LNG signed a revised long-term contract with Qatari LNG producer RasGas.

India paid $0.5 billion for December LNG imports as compared to $0.6 billion the year before, PPAC said.

In the April-December period, LNG import costs reached $3.8 billion versus $5 billion in 2015.

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.

LNG World News Staff