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LNG Imports to India jumped 43% in May 2016 from a year earlier

IndiaLNG imports to India jumped 43% in May 2016 from a year earlier, a contrast to Western Europe where LNG shipments have stagnated since February 2016. Moreover, India is expected to double its LNG intake over the next four years. India overtook South Korea as the second-biggest buyer of spot and short-term LNG cargoes after prices crashed about 65% in almost two years, spurring demand for the cleaner fuel from fertilizer producers, power plants. Petronet LNG is the biggest importer of LNG from Qatar and paying about USD5 per mmbtu.

TechSci Research depicts that India is aggressively expanding its LNG terminal capacity to cater the incremental demand for natural gas. Government has also announced revised guidelines in “Gas Allocation Policy” to prioritize natural gas supply to various end-user segments that includes City Gas Distribution for households and transport sector, fertilizer sector, power plants and industrial sector. In addition, emergence of SSLNG market is opening up new opportunities for the industry. Other policies such as E-bid RLNG are also expected to play a crucial role in supplying imported RLNG to power plants and fertilizer industry.

According to a recent report published by TechSci Research, India LNG Market Forecast & Opportunities, 2025”, the total opportunity for RLNG in India is projected to increase from an estimated 52.34 mmscmd in 2016 to 305.10 mmscmd by 2025, registering a CAGR of more than 21% during 2016–2025. Upcoming LNG terminal projects, surging demand for natural gas in India and cost-effectiveness of LNG as compared to other alternative fuels are the major factors anticipated to positively influence the country’s LNG market scenario over the next ten years. 

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