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    India's LNG Imports in Feb Spike 68%

Summary

Imports were highest on record.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Liquified Natural Gas (LNG), Premium, Security of Supply, Corporate, Import/Export, News By Country, India

India's LNG Imports in Feb Spike 68%

India’s LNG imports in February jumped almost 68% yr/yr to a monthly record as global prices remain at multi-year lows, according to the data published by the Indian oil and gas ministry's Petroleum Planning and Analysis Cell on March 20.

The south Asian country imported 3.45bn m3 (about 2.6mn metric tons) of LNG last month as against 2.05bn m3 in the same month of last year. India’s imports were sharply up on January as well when the country took in 2.77bn m3 of LNG.

The cumulative imports of 30.81bn m3 during the 11 months of the current financial year (2019-2020), were higher by 16.9% compared with the corresponding period of the previous year, the data showed. This year’s imports have already surpassed the previous financial year’s imports of 27bn m³ of LNG. 

Anglo-Dutch major Shell said last month that India had taken a lot of the cargoes of LNG that China was declining, in the wake of reduced demand following the coronavirus (Covid-19) outbreak.