Indian liquefied natural gas imports increased by 15 percent for the first 10 months of the fiscal year so far and by 26 percent in January as an additional terminal was available and as prices declined by 27 percent since last year while demand continued to grow.
Indian liquefied natural gas imports jumped by 10 percent as lower prices helped encourage buyers while domestic gas output also increased along with the nation’s gas demand.
Indian liquefied natural gas imports jumped by 11 percent in February to continue the resurgence in the nation’s natural gas use despite LNG cargo prices being 37 percent higher than last year.
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.
Indian liquefied natural gas imports plunged more than 21 percent, even more than in the previous month, as the costs of LNG shipments soared, though volumes were offset by offshore domestic natural gas pipeline supplies on the East Coast that jumped more than 24 percent.
European natural gas prices fell back from record highs of the past week while North Asian spot cargo values moved higher as spot shipping charter rates soared, while crude oil increased every day this week to boost long-term LNG contract prices.
Indian liquefied natural gas imports last month surged more than 9 percent along with domestic natural gas production, up more than 19 percent, as economic activity proved to be more resilient as the nation emerged from the worst of the Covid-19 pandemic.
India posted a drop of more than 14 percent in liquefied natural gas imports last month amid higher prices and as the economy still lagged because of low industrial demand and the ongoing impacts of Covid-19.
Indian liquefied natural gas monthly imports increased again in September as cargo shipments to Asia rose along with economic activity and as prices also edged higher.
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.