LNG

Petronet LNG, the owner of the largest Indian cargo import terminal at Dahej north of Mumbai, reported an 18 percent increase in net profits and a 58 percent surge in annual revenues even as India’s LNG imports showed a year-on-year decline.

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.