LNG

Dec 22 (LNGJ) - Shipments of LNG to India for its regasification terminals on the West Coast near Mumbai amounted to 1.49 million tonnes of cargoes in November compared with 1.29MT in the same month a year ago, a rise of 15.5 percent. The figures from the Ministry of Petroleum and Natural Gas showed cumulative imports for the eight months of the current financial year to the end of November amounted to 12.46MT of LNG compared with 10.11MT to November 2015, a rise of 23.2 percent. Most shipments currently come from Qatar but several cargoes have been received recently from the US and Australia. Domestic natural gas production for the month was 2.67 Bcm, a 1.7 percent fall from November 2015.

Gail Authority of India, the nation’s natural gas transmission company and one of the main LNG importers, posted a more than 24 percent plunge in fiscal 2016 annual profit to $341 million even as turnover for the year rose 10 percent to over $7.5 billion and the customer base increased.