India’s natural gas production growth at 30 months-high

India’s natural gas production growth at 30 months-high

India produced 2,738 million standard cubic meter (mmscm) of natural gas in January 2017, registering a growth of 12 per cent over the same month last fiscal. Nothing unusual about it, expect that it was the highest growth recorded in the past 30 months, or two-and-a-half-years, for which data is publicly available.

An analysis of fresh data released by Petroleum Planning and Analysis Cell ( PPAC), the oil ministry’s technical arm, reveals the sudden surge in growth last month is not a result of increased production. Total monthly output has grown from 2,488 mmscm in April 2016 to 2,738 mmscm in January 2017. The historic growth is rather attributed to low base effect  a sudden dip observed in the output for January 2016.

“Gross production of natural gas for the month of January 2017 was 2,738 MMSCM which was higher by 11.9 per cent compared with the corresponding month of the previous year (2,447 MMSCM). The cumulative gross production of natural gas 26,624 MMSCM for the current year till January 2017 was lower by 1.9 percent compared with the corresponding period of the previous year (27,145 MMSCM),” PPAC said in a report.

ndia’s natural gas production growth at 30 months-high

In January 2016, the natural gas production had dropped by a sharp 15.3 per cent. The decline was attributed mainly to fall in output from the state-run Oil and Natural Corporation (ONGC), which alone accounts for a bulk of the domestic production, and private sector companies. ONGC’s production had dropped 19.3 per cent to 1,530 mmscm in January 2016 due to less production in Bassein field due to shutdown for reconstruction activities and closure of wells in Cauvery basin on account of less off-take by consumers.

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Also, natural gas production from private and JV fields had decreased 12 per cent in January 2016 to 670 MMSCM mainly due to production fall in Krishna Godavari D6 block (KGD6), Panna-Mukta, M&S Tapti and Ravva fields. Read More…

Credit By : Hellenicshippingnews

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