By Abhishek Rohatgi, BloombergNEF
India imported 2.07 million metric tons of liquefied natural gas in August, down 13% from July. Low spot prices don’t seem to be unlocking new demand from India. Indian Oil, Reliance and Gujarat State Petroleum bought August delivery cargoes at low-mid $4 per million British thermal units.
Imports fell most at Dahej and Kochi regasification terminals. Lower volumes at Dahej could be due to lower demand in power as temperatures fell, reducing cooling demand. Kochi terminal, which took two cargoes in July from Australia and Malaysia, didn’t take any cargoes in August. Ennore terminal imported its third cargo of the year.
Qatar supplied one-third of the total imports in August compared to 44% in July. Imports from the U.S. were also down, maybe due to the planned maintenance at Sabine Pass Train 3 and 4.
India LNG imports
