Indian LNG imports down 1% in March
Indian LNG imports in March were 2.52bn m3 (about 1.9mn tonnes), down 1.1% year/year, according to the provisional data published by the country's oil and gas ministry's Petroleum Planning and Analysis Cell (PPAC) on April 17.
During the 12 months to March (FY2024), India imported 30.92bn m3 of LNG, up 17.5% year/year. The sharp rise in imports has been primarily due to softer global LNG prices.
In the fiscal year that concluded on March 31, 2023 (FY2023), India's LNG imports amounted to 26.65bn m3, reflecting a decline of 14.1% in comparison to the preceding year.
India currently has seven operational LNG import terminals with a combined capacity of 47.7mn tonnes/year, according to PPAC data.