India's LNG Imports Continue to Rise
India’s LNG imports continued their sharp year on year increase for the fifth straight month as demand remained robust.
During the month of July, India imported 2.47bn m3 of pipeline gas in the form of LNG (about 1.85mn metric tons), up almost 29% compared with the same month of previous year, according to data published August 21 by the Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC). In June, LNG imports were 2.51bn m3, up 39% year on year.
During the first four months of the present financial year that began April 1, cumulative imports were 9.45bn m3, up by more than a fifth year on year. India's LNG imports last year were the highest ever at 26.4bn m³, up 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.
India’s LNG imports may get a further boost thanks to government’s decision to ban the import of petroleum coke (petcoke) as fuel. The ban was announced mid-August.