Indian liquefied natural gas imports dropped by almost 11 percent as prices edged higher along with domestic gas output and the nation’s gas demand remained lukewarm.

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Indian liquefied natural gas imports for the fiscal year dropped by more than 14 percent and below the 20 million tonnes mark and were also well down for the month of March following a brief resurgence in the previous month when shipments had risen.

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Indian liquefied natural gas imports in the fiscal year from April 2021 to March 2022 declined by 3.4 percent, though still amounted to 350 cargoes even as costs jumped by 40 percent to almost $12 billion.

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Indian liquefied natural gas imports declined for a fifth month though at a much slower rate while year-on-year LNG costs soared and were partially offset by more domestic pipeline gas supplies coming ashore from the Bay of Bengal.

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Indian liquefied natural gas imports dropped for a fourth month and by more than 10 percent as the costs of shipments rose at a slower pace and the debut of a seventh terminal was delayed by higher prices while offshore domestic gas pipeline supplies continued to increase on the East Coast.

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Indian liquefied natural gas imports dropped for a third month, though by a lesser amount that the previous two months as the costs of LNG shipments soared, though falling volumes were again offset by offshore domestic natural gas pipeline supplies on the East Coast.

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Indian liquefied natural gas monthly imports edged higher as shipments cost less and began to gather pace along with economic activity and shipments for September at the nation’s largest terminal from Cove Point in the US and from Trinidad.

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Indian liquefied natural gas imports jumped by more than 67 percent last month to 40 cargoes as import capacity gradually increases to handle the shipments, mainly from Qatar, Australia, the US and Africa.

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Qatargas, the leading global liquefaction and LNG export company, has achieved a landmark 2,000th cargo delivery to India to help the Asian nation’s transformation to the use of cleaner fuel and to reduce pollution in cities such as Mumbai.

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Indian liquefied natural gas imports rose for a seventh month in the current fiscal year as the increase in volumes gathered pace with cargoes arriving from Qatar and West African nations such as Nigeria and Angola.

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