India’s June LNG imports drop 17.3 percent year-on-year

India’s liquefied natural gas (LNG) imports dropped by 17.3 percent in June from the same month last year.

LNG imports dropped to 2.31 billion cubic meters or about 1.73 million tonnes in June, data from the oil ministry’s Petroleum Planning and Analysis Cell shows.

Compared to the previous month, LNG imports declined about 10.4 percent.

One of the reasons behind the country’s lower LNG imports could be high prices, prompting Indian buyers to hold off on buying high-priced spot volumes.

In addition, India’s demand for LNG dropped in May and June as lockdowns to curb the second deadly wave of Covid-19 hit industrial activities and consumption.

Total LNG imports in the April-June period rose by 8 percent to 7.55 bcm or about 5.66 million tonnes.

At the moment, India imports LNG via six facilities with a combined capacity of 42.5 million tonnes.

Petronet LNG’s 17.5 mtpa Dahej terminal operated at 80.2 percent capacity while Shell’s 5 mtpa Hazira terminal operated at 50 percent capacity in April-May, the PPAC data shows.

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