India’s Nov LNG imports up by 15.5 pct YoY

India’s imports of liquefied natural gas (LNG) increased 15.5 percent in November as compared to the same month a year ago.

The country’s LNG imports have been rising steadily this year boosted by low prices of the chilled fuel with the exception of July when the imports marked the first and the only monthly decline.

India imported 2.01 billion cubic meters or 1.49 million mt of LNG in November, as compared to 1.74 Bcm in the same month in 2015, according to the data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).

For the April-November period, India’s LNG imports rose 23.2 percent year-on-year to 16.8 Bcm or 12.47 million mt of LNG, PPAC data shows.

Costs of importing LNG into India have dropped sharply in 2016 after India’s Petronet LNG signed a revised long-term contract with RasGas of Qatar. The world’s fourth largest LNG importer, India could save up to $3 billion due to the revised deal.

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