Domestic natural gas consumption has prompted higher LNG imports, ratings agency India Ratings and Research (Ind-Ra) said in a report.
“Ind-Ra believes that 11.8 per cent month-on-month (MoM) growth in liquified natural gas (LNG) import volume to 93 metric standard cubic metre per day (mmscmd) in June 2021 was led by 7.7 per cent MoM growth in domestic gas consumption to 166 mmscmd,” the report said.
“In June 2021, the city gas distribution segment volumes increased 61.2 per cent YoY and 10.3 per cent MoM to 28.9mmscmd.”
Accordingly, NG production has increased 19.5 per cent YoY.
“During the month, Oil India Limited and private or joint venture fields recorded an increase of 5 per cent YoY and 202 per cent YoY, respectively, while Oil and Natural Gas Corporation Limited recorded a decline of 7.4 per cent YoY in NG production volumes.”