Indian LNG imports down 1% in Feb
India’s LNG imports in February came in at 2.5bn m3 (about 1.83mn metric tons), down 0.5% year/year, the country’s oil and gas ministry's Petroleum Planning and Analysis Cell (PPAC) website showed on March 24.
During the 11 months of FY2021-22, the imports were 29.29bn m3, down 3% yr/yr. Analysts say the country’s LNG imports in FY2021-22 will be down due to high global prices. Rating agency ICRA expects Indian LNG imports to be down by about 5% in FY2021-22 compared with FY2020-21.
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Meanwhile, LNG imports in February cost $1bn, up from $800mn in the same month last year. In the April-February period, the import bill was $10.9bn, up from $7bn in the same period last year, the PPAC data showed.