New Delhi: The import of liquefied natural gas (LNG) increased 6.8% year-on-year in the nine months to December 2019 as local output declined and demand expanded. LNG import expanded to 23.58 billion cubic meters in April-December 2019 when gross production shrank 3.2% and total consumption climbed 3.9%. The share of LNG in total domestic consumption expanded to 51.6% during this period from 47.9% in the year-ago period.
In December, the rise in LNG import was much sharper at 22.8% as local production fell 7.9% and consumption expanded 5.9%. Acollapse in the global LNG market, resulting in spot prices for Indian buyers falling below $4 per million metric British thermal unit (mmBtu), has also led to an increase in gas imports.
