LNG imports jump 9.1% in July

Vol 22, PW 23 (05 Sep 19) News in Brief

It's official - India's apetite for LNG imports is insatiable: in July (2019) LNG imports rose 9.1% from 2520m cubic metres (81.3m cm/d) in July 2018 to 2738m cubic metres (88.32m cm/d), according to the government's Petroleum Planning & Analysis Cell.

Near-stagnant gas production by ONGC, Oil India and others should ensure the trend continues. In July 2019 (gross) gas production registered an insignificant 0.2% increase from 2714m cubic metres (87.54m cm/d) in July (2018) to 2718m cubic metres (87.67m cm/d).

Actual (gross) production by ONGC fell by 1.1% from 2045m cubic metres (65.96cm/d) to 2023m cubic metres (65.25m cm/d). Still worse are net production figures for gas availaible to fertiliser, power and CGD companies after flaring and internal consumption.

In July 2019 they dropped 1.6% from 2152m cubic metres (69.42m cm/d) in July 2018 to 2118m cubic metres (68.32m cm/d); ONGC's share of net gas production for sale to industries dropped by 3.4% from 1629m cubic metres (52.54m cm/d) in July 2018 to 1574m cubic metres (50.77m cm/d). By contrast net gas production by private sector and JV companies rose 5.5% from a modest 335m cubic metres (10.8m cm/d) in July 2018 to 354m cubic metres (11.42m cm/d).