LNG

Indian LNG imports up 20% year on year in May

Indian consumption of gas continues to grow rapidly, statistics from the commerce department show Indian consumption of gas continues to grow rapidly, statistics from the commerce department show.
By Andrew Walker 4 September 2017 0 27422

India’s LNG imports increased by 20% in May on an annual basis, according to statistics published by the Department of Commerce. 

Indian LNG imports, May 2017

Country Volume, tons Value, $ million Cost, $/MMBtu Cost in 2016, $/MMBtu Cost in 2015, $/MMBtu
Qatar 902,785 348.84 7.46 5.55 11.73
Nigeria 184,697 57.53 6.01 4.85 11.29
Eq. Guinea 144,180 45.55 6.1 5.35
Australia 141,740 52.93 7.21 6.19
Angola 69,678 27.04 7.49
UAE 61,348 17.42 5.48
           
Total 1,504,429 549.31
Average 7.05 5.39 11.51
Source: Department of Commerce

The average price that India paid for LNG fell for the third consecutive month in May, to $7.05/MMBtu. This is 23% higher year on year as prices bottomed out at $5.39/MMBtu in May 2016 as a result of falling...