India’s import of liquefied natural gas (LNG) in the July-September quarter was the lowest since FY18 as record high prices and shrinking global spot supplies impacted inbound shipments.
Even a quarter-wise comparison reveals that LNG imports during Q2 FY23 were the second-lowest in the last two years. Similarly, a month-wise analysis shows inbound shipments during September 2022 being the lowest in the last seven months.
According to the data published by the Petroleum Planning and analysis Cell (PPAC), LNG imports stood at 7,305 million standard Cubic Meters (MSCM) during Q2 FY23. For the month of September, imports were at 2,365 MSCM.
Imports during the July-September period were the lowest since the same period in FY18, when inbound shipments of LNG had hit 6,541 MSCM.
Similarly, a quarter wise import assessment of LNG was the second lowest since Q1 FY21 when imports stood at 7,279 MSCM. The lowest shipments during the review period was in Q4 FY22 (at 6,745 MSCM).
On a month-on-month basis, LNG imports during September were slightly lower compared to August 2022 (2,369 MSCM). Inbound shipments of gas in September was the lowest since February this year (2,024 MSCM).