Latest developments in global gas sector are good for India: Prabhat Singh, MD & CEO, Petronet LNG

Latest developments in global gas sector are good for India: Prabhat Singh, MD & CEO, Petronet LNG

India’s LNG imports have risen by 18% in November. What according to you is the outlook on demand and whether this is scalable beyond this 18% uptick mark?

Prabhat Singh: I think whatever has been going on in the international market in the gas sector is really very nice for India. The prices have been pretty low as compared to whatever they were there in the previous years. Since last year, we have done some 14-point something million tonnes and this year we are going to exceed 18 million tonnes.

So there is a jump of nearly around 20% which is going to be there. The outlook is going to be good although in the recent time as of now when I am talking the LNG prices for spot have gone higher. But I feel that going forward there will be prices which will come back to whatever we were expecting and LNG off-take would even be a shade higher as far as what we are considering. It should be somewhere around 18-20 million tonnes and that is what I am looking at. I think 2017 is going to be a good year, a stable year and good business for Petronet LNG. Read More…

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