India’s September LNG Imports up 21% YoY

India’s September LNG imports rose by 21% year on year to 2.27bn m³ in September, supported by rising power demand during the festive season and as industrial activity gained momentum following the end of the monsoon season according to preliminary oil ministry data.

• India's LNG import dependency was at 43.4% of the country's natural gas consumption of 5.25bn m³ in September, compared with 46% a year earlier.
• LNG imports in the first nine months of this year totalled 15.11bn m³, up by 11% on the year.
• India has entered its festive period when power demand tends to reach its peak, and industrial activity is picking up. Gas makes up 6% of the country's installed power generation capacity,
• India's net natural gas production rose by 6% on the year to 2.97bn m³ in September.
• IEA previously forecasted that India’s natgas demand will rise by 4% year on year on 2023 driven by industrial and power sectors to grow at an average rate of 8%/yr in 2022-2026.