India’s January LNG imports drop

India’s liquefied natural gas imports dropped 14.3 percent in January following a rise for six straight months.

LNG imports reached 2.40 billion cubic meters or about 1.77 million tonnes last month, data from the oil ministry’s Petroleum Planning and Analysis Cell shows.

In addition, the value of January LNG imports continued to ease and the price tag totaled $0.6 billion compared to $0.8 billion in the same month last year.

Same as in December, India’s domestic natural gas production dropped last month 2.2 percent to 2.55 bcm.

Total LNG imports in the April 2020-January 2021 period dropped by 1.2 percent to 27.07 bcm or about 20.03 million tonnes.

To remind, the Covid pandemic has affected the country’s LNG imports bringing them down in April-June due to restrictions. But they continued to log monthly climbs since then and this marked the first drop.

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

Petronet LNG’s 17.5 mtpa Dahej terminal operated at 95.8 percent capacity while Shell’s 5 mtpa Hazira terminal operated at 89.3 percent capacity in April-December, the PPAC data shows.

A recent report by the International Energy Agency suggests India’s LNG imports could rise four times in the next two decades as the nation moves towards a gas‐based economy.

The country’s LNG imports could rise from around 30 bcm in 2019 to more
than 120 bcm in 2040, IEA said.

Most Popular

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.

Shell’s LNG Canada expansion project to get boost from government

Canadian Prime Minister Mark Carney named the planned second phase of Shell's LNG Canada export project as one of the major projects the federal government would help fast-track.

More News Like This

India’s LNG imports drop in July

India's liquefied natural gas (LNG) imports dropped by 20.2 percent year-on-year in July, preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell shows.

Petronet plans to complete Dahej LNG expansion by end of this year

India’s largest LNG importer, Petronet LNG, expects to complete work on an additional 5 mtpa capacity at its Dahej LNG terminal in western Gujarat state by the end of this year, according to Petronet LNG's management.

Petronet approves onshore Gopalpur LNG terminal

India’s Petronet LNG has approved an investment in a land-based LNG import terminal in Gopalpur, Odisha, instead of an FSRU-based facility.

India’s Petronet LNG logs lower profit, volumes

India’s largest LNG importer Petronet LNG, the operator of the Dahej and Kochi regasification terminals, reported lower quarterly profit and volumes.