Indian LNG imports drop under 20 million tonnes for fiscal year as prices start to fall and new terminal opens
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.
India’s Petronet LNG reports record earnings even as nation’s imports fall for all of fiscal third quarter
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 LNG imports drop over 21 percent and are partly offset by rising domestic output on 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.
Indian LNG imports drop amid 40 percent surge in prices as more domestic gas output offsets fall
Indian liquefied natural gas imports last month dropped by more than 17 percent amid a 40 percent surge in cargo prices year-on-year, while domestic natural gas production more than offset the fall in imports.
Indian LNG imports jump 45 percent in April because of much lower volumes when Covid-19 first hit
Indian liquefied natural gas imports jumped by more than 45 percent in April from a much lower figure in April 2020 caused by last year’s drop in economic activity after the appearance of the Covid-19 pandemic.
Indian LNG imports jump and head for 2020 record on rising demand backed by more terminal capacity
Indian liquefied natural gas imports increased by almost 12 percent last month and were on track for record fiscal-year and calendar-year totals as shipments increased due to rising demand, backed by higher terminal capacity use and a steady infrastructure build-out.
Hiranandani Group’s H-Energy signs deal with Höegh LNG for FSRU at Jaigarh Port from March 2021
The Hiranandani Group of India said its H-Energy subsidiary had entered into a binding commitment with Norway’s Höegh LNG for the supply of a floating storage and regasification unit (FSRU) to be deployed at Jaigarh Port in the West Coast Indian state of Maharashtra.
Indian LNG imports rise again and prices are also increasing with regional benchmarks and demand
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 LNG imports drop 30 percent during April lockdown and shipment costs were 50 percent lower
Indian liquefied natural gas imports dropped by almost 30 percent last month and the import bill was also half what it was in April 2019 as the Covid-19 pandemic resulted in a lockdown and affected trade activities.
LNG import for the month of April amounted 1.44. million tonnes, or around 20 cargoes, which was 29.4 percent lower than April 2019 when 2.04MT, or 29 cargoes, were delivered, according to provisional data from the Ministry of Petroleum and Natural Gas.
The LNG deliveries to India came mainly from Qatar, Australia, the US and West Africa.
The cost of the April 2020 cargoes amounted to around $400 million compared with $800M in April 2019.
The Ministry said that gross production of natural gas for April 2020 was 2.161 billion cubic metres, a drop of 18.6 percent compared the same month a year ago when output totaled 2.656 Bcm.
The total of LNG imports has been rising to more than 350 cargoes a year as more infrastructure is constructed, including pipelines to reach more industrial and city-gas customers.
The main operating terminals on India’s West Coast are at Dahej, Hazira and Dabhol, near Mumbai.
The newest terminal at Mundra, north of Mumbai, and is now operational and awaiting more shipments.
There is additionally the Kochi facility in the southwest state of Kerala and one East Coast terminal at Kamarajar, 25 kilometres north of Chennai Port in Tamil Nadu, and also known as Ennore.
Indian LNG imports in March 2020 had increased by more than 20 percent to 2.12MT from 1.76MT in the same month of the previous year.
For the April-to-March 2019-2020 fiscal year, shipments rose by more than 17 percent to 24.9MT from 21.3MT in the previous fiscal year.
With the opening of the Mundra terminal, India now has 42.5 million tonnes per annum of regasification capacity.
Of the LNG import terminals in full commercial use, capacity utilisation at Dahej was 103.1 percent through March 2020 and total capacity is 17.5 MTPA.
At Hazira it was 97.96 percent from 5 MTPA, while at Dabhol it was 32.9 percent from 5 MTPA.
The utilization at the Kochi facility was 16.6 percent in March from 5 MTPA and at Kamarajar (Ennore) it was 9.0 percent from 5 MTPA.
The newest Mundra terminal had 29.63 percent capacity utilization from 5 MTPA of capacity.
The Mundra facility is co-owned by Gujarat State Petroleum Corp. and the Adani Group and is designed with two storage tanks.
India's import costs for the previous full 2019-2020 fiscal year fell to $9.5 billion from $10.3Bln in the previous 12-month period.
Indian LNG imports continue to rise at start of 2020 as much lower cargo prices prevail
Indian liquefied natural gas imports surged for a 10th month in the current fiscal year as more volumes were imported at a lower cost from countries such as Qatar, the US, Australia and West Africa.
