India's Gas Import Need Remains Over 50%
LNG imports accounted for 55% of India’s total gas consumption in May, which stood at 4.6bn m3, according to latest data published by Indian oil ministry's Petroleum Planning and Analysis Cell (PPAC) which did not provide any year on year comparison.
India's fertiliser manufacturers were the biggest consumer that month, consuming 1.24bn m3 of which imported LNG accounted for 0.745bn m3. The power sector came next with 1.06bn m3, of which 0.286bn m3 was imported LNG. The city gas sector, India's third biggest consumer, consumed 764mn m3 of gas in May, of which imported LNG was 0.349bn m3.
India’s May LNG imports saw year on year growth for the third straight month as domestic gas demand remained robust. India imported 2.26bn m3 of LNG, up 16.5% year on year, according to data published June 20, with Petronet LNG, Gail, Gujarat State Petroleum Corporation, Reliance Industries, Indian Oil Corporation, Torrent Power and BPCL the main importers that month.
India's domestic gas production has stagnated: gross production in May was 2.72bn m3, 1.5% less than in May 2017, according to the PPAC data.