INDIAN LNG IMPORTS DOWN 5% IN DEC
India’s LNG imports in December came in at 2.61bn m3 (about 1.86mn metric tons), down 4.9% year/year, the country’s oil and gas ministry’s Petroleum Planning and Analysis Cell (PPAC) website showed on January 23. The imports were up 17% month/month, however.
During the first nine months of FY2021-22, the imports were 24.46bn m3, down 2.8% yr/yr. Analysts say the country’s LNG imports in FY2021-22 will be down due to high global prices. Rating agency ICRA expects Indian LNG imports to be down by about 5% in FY2021-22 compared with FY2020-21.
Meanwhile, LNG imports in December cost $900mn, up from $700mn in the same month last year. In the April-December period, the import bill was $8.7bn, up from $5.4bn in the same period last year, the PPAC data showed. In FY2020-21, the import bill was $7.4bn.