Global Markets: India May LNG imports up

LNG vessel-shellIndia’s LNG imports saw year on year growth for the third straight month in May as domestic gas demand remained robust.

Last month India imported 2.26bn mof LNG, up 16.5% year on year, according to data published June 20 by the Indian oil ministry’s Petroleum Planning and Analysis Cell (PPAC). Imports for the month of March were 2.77bn m3, up almost 20% year on year while in April India imported 2.3bn m3 of LNG, up 4.5% year on year.

During the first two months of the financial year (April 2018-March 2019) cumulative imports were 4.54bn m3, up more than 10% year on year. India’s LNG imports during last financial year (April 2017-March 2018) were the highest ever. LNG imports for the 12-month period were 26.4bn m³, up 7% year on year, according to PPAC data. Major buyers of LNG were Petronet LNG, Gail, Gujarat State Petroleum Corporation, Indian Oil Corporation and Reliance Industries.

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