India's LNG imports down 21% in Nov
India’s LNG imports in November came in at 2.23bn m3 (about 1.6mn metric tons), down 20.8% year/year, the country’s oil and gas ministry's Petroleum Planning and Analysis Cell (PPAC) website showed on December 23. The imports were down 16% month/month.
During the first eight months of FY2021-22, the imports were 21.59bn m3, down 3.7% 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.
Meanwhile, LNG imports in November cost $1.1bn, up from $600mn in the same month last year. In the April-November period, the import bill was $8.1bn, up 72.3% yr/yr, the PPAC data showed. In FY2020-21, the import bill was $7.4bn.