India pays $1.2 billion for June LNG imports

India paid $1.2 billion for its LNG imports in June, a rise of 50 percent year-on-year, while monthly volumes continue to drop, according to preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell.

LNG imports in June declined by 9.5 percent to 2.45 billion cubic meters, or about 1.80 million tonnes, the data shows. They also dropped compared to the previous month.

During April-June, India took 7.40 bcm, or some 5.43 million tonnes, down by 9.6 percent when compared to the same period last year, PPAC said.

India paid $3.4 billion for April-June LNG imports, up from $2.4 billion last year.

On the other side, natural gas production in June increased by 1.3 percent to 2.81 bcm. Gas production rose by 4.7 percent in April-June to 8.55 bcm.

India’s monthly LNG imports have been constantly dropping this year due to mostly high spot prices.

Asian spot LNG prices remained high during this entire year and they further rose this month due to reduced flows of Russian gas in Europe and the Freeport LNG outage.

The JKM LNG price currently trades at more than $38 per MMBtu for September.

At the moment, India imports LNG via six facilities with a combined capacity of about 42.7 million tonnes.

Petronet LNG’s 17.5 mtpa Dahej terminal operated at 83.8 percent capacity while Shell’s 5 mtpa Hazira terminal operated at 36.1 percent capacity in May, PPAC said.

- Advertisements -

Most Popular

NNPC, Golar plan to take FID on Nigerian FLNG project in 2024

State-run Nigerian National Petroleum Corp and floating player Golar LNG plan to take a final investment decision on a...

Venture Global LNG’s customers get access to Calcasieu Pass documents

The US FERC has ordered LNG exporter Venture Global LNG to provide its customers with documents about the commissioning...

QatarEnergy, ExxonMobil update on Golden Pass LNG work

Energy giants QatarEnergy and ExxonMobil released the latest construction update for their Golden Pass LNG export terminal on the...

More News Like This

Cedigaz: global LNG imports increased 1.7 percent in January-May

Global LNG imports rose by 1.7 percent to 169.3 million tonnes in January-May 2024, up from 168 million tonnes...

India’s Dhamra LNG terminal received 20 cargoes in first year of operations

India’s Adani and France’s TotalEnergies have received 20 shipments at their Dhamra LNG import facility located in Odisha, on...

Petronet expects 15 percent rise in India’s LNG imports

India's largest LNG importer Petronet LNG expects a 15 rise in the country's imports of liquefied natural gas during...

India boosts LNG imports in April

India’s liquefied natural gas (LNG) imports rose in April this year compared to the same month last year, according...