India’s monthly LNG imports continue to drop

India’s monthly liquefied natural gas (LNG) imports are continuing to decline, mostly due to very high spot prices.

Preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell shows that LNG imports in August declined by 18.9 percent to 2.36 billion cubic meters or about 1.73 million tonnes.

Imports dropped compared to the previous month as well.

During April-August, India took 12.34 bcm of LNG, or some 9 million tonnes, down by 10.2 percent when compared to the same period last year, PPAC said.

India paid $1 billion for August LNG imports, compared to $1.2 billion last year, while costs increased to $5.6 billion in April-August from $4.5 billion last year.

As per India’s natural gas production, it dropped by 1 percent to 2.89 bcm in August. Gas production rose by 2.5 percent in April-August to 14.33 bcm.

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

Europe is attracting most of the spot cargoes as European countries look to ensure energy supplies ahead of winter.

The JKM LNG price for November reached about $45 per MMBtu on Friday.

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 87.6 percent capacity while Shell’s 5 mtpa Hazira terminal operated at 47 percent capacity in April-July, PPAC said.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Coastal Bend LNG plans large Texas export plant

Coastal Bend LNG said it had initiated development of a 22.5 million ton per annum (mtpa) natural gas liquefaction and export facility on the Texas Gulf Coast.

HD Hyundai Samho scores contract to build LNG carrier quartet

South Korea’s HD Hyundai Samho has secured an order to build four liquefied natural gas (LNG) carriers for about $1.03 billion.

More News Like This

India’s May LNG imports drop

India's liquefied natural gas (LNG) imports dropped by 15.3 percent year-on-year in May, preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell shows.

GAIL: Dabhol LNG terminal gets first cargo during monsoon season

India's GAIL has unloaded its first LNG cargo at the Dabhol LNG terminal during the monsoon season following the completion of the breakwater project.

BP seals LNG SPA with India’s Torrent Power

A unit of UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with India's Torrent Power.

Petronet pushes back launch of additional Dahej LNG capacity

India’s largest LNG importer, Petronet LNG, has again pushed back the launch of an additional five mtpa capacity at its Dahej LNG terminal in western Gujarat state.