India's LNG imports down 22% in Oct
India’s LNG imports in October came in at 2.7bn m3 (about 2mn metric tons), down 21.6% year/year, the country’s oil and gas ministry's Petroleum Planning and Analysis Cell (PPAC) website showed on November 22. The imports were up 2.3% month/month, however.
During the first seven months of FY2021-22, the imports were 18.91bn m3, down 3.6% 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 October cost $900mn, up from $700mn in the same month last year. In the April-October period, the import bill was $5.8bn, up 41.46% yr/yr, the PPAC data showed. In FY2020-21, the import bill was $7.4bn.