India’s LNG imports surge in Jan YoY

India’s imports of liquefied natural gas (LNG) rose 47 percent in January on a yearly basis, logging a rise for the fifth consecutive month, according to the latest data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).

India imported 2.41 billion cubic meters of LNG or about 1.78 million tonnes last month.

The costs of these imports were at $0.8 billion compared to $0.5 billion in January last year, the PPAC data shows.

India’s domestic natural gas production dropped 1.6 percent to 2.69 Bcm.

In the April-January period, India imported 21.8 Bcm or about 16.13 million tonnes of LNG, a rise of 6.9 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