India's April LNG Imports Up on Year
India’s LNG imports saw year on year growth for the second straight month in April as domestic gas demand remained robust.
Last month India imported 2.3bn m3 of LNG, up 4.5% year on year, according to data published April 22 by the Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC). Imports for the month of March were 2.77bn m3, up almost 20% year on year.
India's LNG imports during April 2017-March 2018 were the highest ever. LNG imports for the 12 month period were 26.4bn m³, up by 7% year on year, according to PPAC data. Major buyers of LNG were Petronet LNG, Gail, Gujarat State Petroleum Corporation, Indian Oil Corporation and Reliance Industries.
Record LNG imports have impacted Petronet LNG’s results extremely positively. India’s biggest LNG importer witnessed its highest ever net profit during the year April 2017-March 2018 thanks to higher volumes of LNG processed. Petronet LNG operates two land based terminals in India.