India’s imports of liquefied natural gas (LNG) declined during the month of May after previously rising for three straight months, according to the latest data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).
The monthly LNG imports dropped 9.6 percent in May when compared with the same month last year.
India imported 1.93 billion cubic meters of LNG or about 1.45 million mt last month.
On the other side, domestic natural gas production rose 4.2 percent in May to 2.76 Bcm, the PPAC data shows.
India’s LNG imports have been rising since the beginning of last year on the back of lower prices after the country’s largest importer, Petronet LNG signed a revised long-term contract with Qatari LNG producer RasGas.
India paid $0.5 billion for May LNG imports, PPAC said.
The country currently imports LNG via Petronet’s Dahej and Kochi LNG terminals, Shell’s Hazira plant, and the Dabhol terminal operated by Ratnagiri Gas and Power.
LNG World News Staff