India’s consumption of Liquified Natural Gas (LNG) is expected to rise further in the coming months on the back of growing demand from the fertiliser and power industries, analysts say. Anticipated lower spot LNG prices will further add to this growth.
“Our current forecast for December, January, and February averages at 76 MMcm/d, with an upside risk of 4 MMcm/d to this forecast, as spot prices are now expected to average around $16/MMBtu for the next three months, incentivizing spot buying for the industrial sector,” S&P Global said in a note.
