New Delhi: India’s import bill for natural gas surged by 17% to $8.9 billion during the first seven months of the current fiscal. It was at $7.6 billion in the same period a year ago. The import bill for the month of October stood at $1.2 billion. It was at $1.1 billion in the corresponding period of last fiscal. The rise in consumption particularly by the city gas distribution companies and the power sector is the main reason for this increase in import. Data released by the Petroleum Planning and Analysis Cell showed this.
The country imported 22,085 million standard cubic meters of LNG (liquified natural gas) during April to October, up by 22.2% from the corresponding period of FY24. The country’s dependence on imported gas increased to 51.3% during Apr-Oct from 46.7% in Apr-Oct of FY24.
According to global real-time data and analytics provider Kpler, India’s LNG imports are further expected to rise 7% on year to 27 million tones in 2025.
Also Read: FLY91 introduces two new domestic flight services: Details
‘The 5 million tonnes per annum Dhamra LNG terminal is projected to see increased imports with the full completion of the Pradhan Mantri Urja Ganga pipeline. By second quarter of 2025, we should see the expansion of the largest LNG regasification terminal from 17.5 mtpa Dahej to 22 mtpa capacity,’ Kpler said.
The country’s consumption of natural gas increased by 11% to 43,033 mmscm in the April to October period compared to the same period last year. Consumption of natural gas and LNG in India is on the rise, especially from the city gas sector, with government programs aiming to increase the number of compressed natural gas (CNG) stations to 18,000 across the country by 2032.
State-owned major oil and gas company Oil and Natural Gas Corp registered an increase in its gas production sequentially after 10 quarters of decline, driven by partial ramp-up in KG-98/2 field. Presently, the field produces 25,000 barrels per day of oil and ONGC expects it to ramp up to 45,000 bpd by end of FY25. KG gas production is likely to reach 10 mmscmd by FY25 end from the current ~2 mmscmd. The company has guided for oil & gas production of 44.9 million tonnes of oil equivalent and 46.2 million tonnes of oil equivalent in FY26 and FY27 respectively.
Post Your Comments