In December, India’s monthly LNG imports fell again compared to the previous year, while prices remained high as reported by LNG Prime.
LNG imports
LNG imports fell by 4.9% in December, to 2.61 billion cubic metres, or approximately 1.90 million tonnes, according to preliminary statistics from the energy ministry’s Petroleum Planning and Analysis Cell.
When compared to the previous month, LNG imports increased.
PPAC said that total LNG imports fell by 2.8% from April to December, reaching 24.46 billion cubic metres, or around 17.8 million tonnes.
High spot price
Natural gas output, on the other hand, jumped 19.5% in December to 2.89 billion cubic metres, while it increased 21.5% from April to December to 25.67 billion cubic metres, according to the report.
The high spot price, which traded above $30/MMBtu in December, is still one of the key reasons for India’s decreased LNG imports, prompting Indian purchasers to hold off on buying spot volumes.
India’s expenditure
According to PPAC data, India spent $0.9 billion on LNG imports in December, up from $0.7 billion the previous year. The price tag for the April-December period was $8.7 billion, up from $5.4 billion in the same time the previous year.
India currently imports LNG through six plants with a total capacity of 42.5 million tonnes.
According to PPAC data, Petronet LNG’s 17.5 mtpa Dahej terminal worked at 90.2% capacity in April-December, while Shell’s 5 mtpa Hazira terminal operated at 63.2% capacity.
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Source: LNG Prime
