India’s LNG imports drop in March

India’s liquefied natural gas (LNG) imports decreased in March, after rising in both January and February, according to the preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell.

The country imported 2.23 billion cubic meters or about 1.65 million tonnes of LNG in March, a drop of 15.2 percent when compared to the same month in 2022, PPAC said.

Also, March LNG imports were slightly down when compared to 2.25 bcm in February.

During the April 2022-March 2023 financial year, India took 26.64 bcm of LNG, or some 20.1 million tonnes, down by 14.1 percent, PPAC said.

India paid $1.5 billion for March LNG imports, the same as in 2022, while costs increased about 32.6 percent year-on-year to $17.9 billion in April-March, it said.

As per India’s natural gas production, it rose by 2.4 percent to 2.95 bcm in March. Gas production increased by 1.3 percent in April-March to 34.45 bcm.

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

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

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

In addition, India’s Adani and France’s TotalEnergies have this week started supplying natural gas 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 77.8 percent capacity, while Shell’s 5 mtpa Hazira terminal operated at 36.2 percent capacity in April-February, PPAC said.

Most Popular

Delfin inks new deals for US FLNG project, eyes FID later this year

Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, is moving forward with the project by signing new deals with Siemens Energy, Samsung Heavy, and Black & Veatch.

Deutsche ReGas: Mukran LNG terminal hits record in Q2

German LNG terminal operator Deutsche ReGas claims that its FSRU-based LNG import facility in Mukran was the highest-performing LNG terminal in Germany in the second quarter of this year.

Ukraine’s Naftogaz to get another US LNG cargo from Orlen

Poland's Orlen will supply another US LNG cargo to Ukraine's Naftogaz, the fourth shipment as part of a deal signed earlier this year.

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.