India’s LPG Imports Likely To Rise 10% In Fiscal 2017-18: Traders

India’s LPG Imports Likely To Rise 10% In Fiscal 2017-18: Traders

India’s LPG imports are expected to rebound from July onwards and is on track for a 10% annual increase in the current fiscal 2017-2018 (April-March), after plunging to the lowest in two years in June, trade sources from four oil and gas companies in India said recently.

India, which is competing with China and Japan to be the world’s largest importer of LPG, imported 597,000 mt in June, down about 25% year on year, the lowest since June 2015, data from India’s Petroleum Planning and Analysis Cell, showed.

“India’s domestic LPG production is not rising at the same pace as consumption; hence, imports will go up by at least 10% this fiscal,” one of the trade sources said. The other trade sources agreed with his projection. Read More…

 

Credit By: Platts

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