India’ LNG import drops 40% to 1.5 MT in May

India’s import of liquefied natural gas (LNG) recorded a drop of 40% year-on-year (y-o-y) in May. However, the import volumes inched up 4% from the levels in April. For LNG imports, Petronet LNG’s Dahej and Kochi terminals have been losing market share to Shell’s Hazira and the newly commissioned Mundra terminals over last three months, analysts at Credit Suisse noted.

The Mundra terminal is owned by GSPC LNG, a joint venture by the Gujarat government and Adani Enterprises.

The total capacity of operational LNG import terminals is 41 MT per annum (MTPA). Petronet’s Dahej, the largest among them with 16.3 MTPA capacity, was operating at 55-60% utilisation in May.