Record low spot LNG imports in June

Vol 20, PW 21 (13 Jul 17) News in Brief

Last month LNG imports to India hit a new low even for this time of year when they usually slow to a trickle as hydropower generation picks up during monsoon rains.

Exclusive data compiled by PETROWATCH says just eight spots landed in June with a total 1,260,142-cubic metres of LNG discharged at Dahej, Hazira and Kochi. Now compare that to a year ago when 1,776,513-cubic metres across 12 cargoes came in during June 2016.

Or to May 2017 when 1,975,298-cubic metres came in across 13 cargoes. Petronet-LNG meanwhile has brought no spot cargo in for two months at Dahej where tanks are overflowing.

It is however bringing in long-term cargos from ExxonMobil's Barrow Island facility, also known as the Gorgon project, aboard its own tanker Prachi, the fourth largest in its fleet. Eighteen Australian cargoes are scheduled to land at Dahej by the end of this fiscal.

"No spot tenders are out just now," adds a source. GSPC's June 16 tender for a spot was the last till IndianOil came out with a spot tender on July for an early September delivery.

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