India LNG Imports Surges by 15% in this November

India: According to Petroleum Planning and Analysis Cell (PPAC), the import of LNG in India is increasing at a greater pace. This is observed as the cost of importing LNG has gone down this year after India signed a revised long term contract with Doha. As per PPAC, LNG imports in November were 2.01billion cubic meter, up 15.47% compared with the same month last year. The maximum amount of LNG has been imported from Qatar, which is around 51% and the rest 8.61% from Angola, 8.17% from Equatorial Guinea, 7.8% from Singapore, 7.65% from Trinidad & Tobago, 4.14% from Australia, 3.97% from Nigeria, 3.93% from UAE and 3.81% from Spain. As per the oil ministry, India’s LNG import terminal capacity could more than double by 2022 as existing terminals expand capacity and new ones get commissioned.

TechSci Research depicts that rising demand for natural gas from power and industrial sectors coupled with favorable government policies is making LNG a commercially viable fuel for an increasing number of end users industries in India. As a result, LNG demand is forecast to witness robust growth over the next 5-10 years. Power sector is the largest natural gas consumer in India, and the sector is expected to continue its dominance with the implementation of new policy initiative i.e. “e-bid RLNG”, which would support the supply of imported RLNG to stranded gas based power plants

According to released report of 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 among the major factors anticipated to positively influence the country’s LNG market scenario over the next ten years.