India’s Liquefied Natural Gas (LNG) imports fell 9.1 per cent year-on-year (y-o-y) to 68 million metric standard cubic meter per day (mmscmd) in February 2019, India Ratings said in a report.
This happened despite a reduction in Henry Hub prices. “The Henry Hub prices reduced gradually to $2.7 per metric million british thermal unit (mmbtu) in February 2019 from $4.0 per mmbtu in November 2018. This is in contrast to the historical trends seen where LNG imports have increased on a reduction in Henry Hub prices,” the report said.
According to the research and ratings agency, the marginal improvement in domestic natural gas (NG) production in the past few months coupled with a reduction in consumption demand was likely responsible for the trend of LNG imports. Read More