LNG

Lower prices drive up India’s LNG imports in 2016

India’s LNG imports soared by nearly 30% in 2016, driven by significantly lower prices for the fuel India’s LNG imports soared by nearly 30% in 2016, driven by significantly lower prices for the fuel.
By Andrew Walker 13 March 2017 0 25004

India’s LNG imports soared by nearly 30% in 2016, driven by significantly lower prices for the fuel. The country imported nearly 4 mt more LNG in 2016 than in 2015, but paid $1.7 billion less. India’s imports of LNG fell in 2015, with total spending down by 27% compared with 2014, according to data published by the country’s Department of Commerce.

Petronet successfully renegotiated the pricing formula for its 7.5 mtpa LNG contract with Qatar’s RasGas in December 2015. This saw the...