India’s LNG imports decline in May

India’s liquefied natural gas (LNG) imports dropped in May when compared to the same month last year, according to the preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell.

The country imported 2.22 billion cubic meters, or about 1.6 million tonnes of LNG, in May, a drop of 24.1 percent when compared to the same month in 2022, PPAC said.

During April-May, India took 4.74 bcm of LNG, or some 3.4 million tonnes, down by 5.4 percent, PPAC said.

India paid $1.4 billion for May LNG imports, down from $1.8 billion last year, while costs dropped from $3.2 billion in the April-May period last year to $2.5 billion during the same two months this year, it said.

As per India’s natural gas production, it reached 2.90 bcm, almost flat when compared to the corresponding month of the previous year.

During April-May, gas production dropped 1.5 percent to 5.65 bcm, PPAC said.

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

However, Asian spot LNG prices dropped significantly this year, prompting some buyers in India to return to the spot market.

Compared to the year before, India’s LNG imports rose in January, February, and April, but they dropped in March.

At the moment, India imports LNG via seven facilities with a combined capacity of about 47.7 million tonnes.

India’s Adani and France’s TotalEnergies started supplying natural gas in April to the grid from their Dhamra LNG import facility located in Odisha, on India’s east coast, as part of the terminal’s commissioning phase.

Petronet LNG’s 17.5 mtpa Dahej terminal operated at 95.4 percent capacity, while Shell’s 5 mtpa Hazira terminal operated at 21.2 percent capacity in April, PPAC said.

- Advertisements -

Most Popular

China’s Wison wins Indonesian FLNG gig from Genting

China's Wison New Energies has secured a contract from a unit of Genting to build a floating LNG unit...

Japan’s Chiyoda provides Golden Pass LNG update

Japan's engineer Chiyoda has released an update regarding the construction of the Golden Pass LNG export project in Texas,...

South Korea’s Hanwha to increase stake in NextDecade

South Korean conglomerate Hanwha has agreed to buy more shares in US LNG firm NextDecade to increase its stake...

More News Like This

India’s LNG imports drop in May

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

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...