LNG

Petronet LNG, the owner of the largest Indian cargo import terminal at Dahej north of Mumbai, reported record earnings in the third quarter of the fiscal year as natural gas prices increased, though the nation’s imports were down in December for a third month.

Indian liquefied natural gas imports declined amid a surge in cargo prices and the fall was offset by higher domestic natural gas production as the nation slowly recovered from the Covid-19 pandemic.

Indian liquefied natural gas imports jumped for a fifth month of the current fiscal year as volumes received rose more than 10 percent with supplies coming from Atlantic Basin countries such as the US, Nigeria and Angola and traditional suppliers like Qatar.