India’s LNG imports jump in October

India reported a rise in liquefied natural gas (LNG) during the month of October 2020.

India's LNG imports jump in October
Courtesy of Petronet LNG

According to the oil ministry’s Petroleum Planning and Analysis Cell latest monthly report, LNG imports reached 3.28 billion cubic meters in October. This is a 16.1 per cent increase compared to 2.83 billion cubic meters reported in October 2019.

Month-on-month, imports jumped after staying flat for a two-month period at 2.97 billion cubic meters of the chilled fuel.

For the April to October period, India imported a total of 19.08 billion cubic meters. This is 0.9 per cent below the volumes imported in the corresponding period of the previous year.

The price of imports slipped. October 2020 imports are valued at $0.7 billion, down from $0.8 billion India paid in October 2019. The value of cumulative imports for the April-October period reached $3.8 billion, down from $5.5 billion in the corresponding period in 2019.

Looking at India’s domestic natural gas production, it dropped 8.4 per cent last month to 2.42 billion cubic meters.

India currently imports chilled fuel via six LNG import terminals with a combined capacity of 42.5 million tonnes.

According to PPAC, utilization of these facilities continues to pick up. Petronet LNG’s Dahej LNG terminal operated at 92 per cent capacity.

PPAC data shows that Shell’s 5 mtpa Hazira LNG terminal operated at 96.5 per cent capacity while the Dabhol LNG facility operated at 25.6 per cent.

Kochi LNG facility was at 15.5 per cent, Indian Oil’s Ennore facility operated at 10.8 per cent while GSPC’s Mundra plant operated at 35.2 per cent capacity.