India Imported Record LNG Volume
India's LNG imports during April 2017-March 2018 were the highest ever, as demand for gas rose thanks to affordable prices.
LNG imports for the 12 month period were 26.4bn m³, up by more than 7% year on year, according to data published April 20 by the Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC), and also reached an all time high for India's financial year period. India's LNG imports during April 2016-March 2017 were 24.6bn m³.
After witnessing a minor dip in February, India’s LNG imports jumped sharply year on year in March, according to PPAC. Imports for the month of March were 2.51bn m3, up almost 17% year on year.
India has four operating LNG terminals: Dahej, Hazira, Dhabol and Kochi. LNG terminal capacities could more than double by 2022 as existing terminals expand and new ones are commissioned. Qatar is the largest LNG supplier to India, but other suppliers including notably US projects have contracted to supply. Late last month, India received its first cargo of US LNG from Cheniere Energy's LNG export facility at Sabine Pass complex in Louisiana at Gail’s Dabhol terminal. The US company will supply about 3.5mn mt/yr of LNG to India’s biggest gas marketing firm under a deal signed December 2011.
On March 27, Russian producer Novatek announced that the first cargo of LNG from its plant on the Yamal Peninsula, northern Russia, had reached India, but did not say who the buyer was.