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India Spot LNG Imports Supported by Weak Price Trend

LNG

India’s LNG demand will be supported if the weak price trend continues according to Petronet LNG CEO Akshay Kumar Singh on Wednesday.

  • Spot LNG prices are almost at par with the fuel imported under term deals at around 10-11$/mmbtu, Singh said.
  • Petronet’s 17.5 mtpa Dahej LNG terminal operated at 97% capacity in April up from about 77% in January-March. Petronet processed 20 LNG cargoes at Dahej in April and expects similar volumes in May.
  • More spot cargoes are coming to the country and if the price trend continues, more volume will come to Dahej. “There is positive sign with softening of LNG prices in international market,” Singh said
  • Petronet is in “serious” discussion with Qatar for extending its long term deal to import LNG beyond 2028 he added Singh.
Energy BulletsCommodities
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