Wednesday, April 10, 2013
India's LNG imports this year could increase by as much 120 Bcf (2.5 million mt) or 19%, from 2012's 643.45 Bcf, due to new short-term contracts, additional import capacity and higher imports by existing LNG facilities, an analyst at Bentek Energy said in a report Tuesday.
Bentek Energy is a unit of Platts.
India's 2012 imports reflected a rise of 9% year on year as its terminals at Dahej and Hazira, in Gujarat, west coast of the country, were operating at an average utilization rate of just under 99%, the analyst said. Three new short-term contracts will come into force in 2013, totaling 68.3 Bcf, according to the report. Spain's Gas Natural Fenosa will provide an additional 39 Bcf to India's GAIL and 9.8 Bcf to India's Petronet in 2013. France's GDF Suez will also provide an additional 19.48 Bcf to GAIL.
New capacity will come online to support these new short-term contracts, the analyst said. India's 5 million mt/year (0.67 Bcf/d) import and regasification terminal in Kerala, southwestern India, is expected to come on stream in May or early June this year. Meanwhile, upgrades at the existing Dabhol terminal in the state of Maharashtra are expected to raise the terminal's capacity by the end of 2013.
To read the full report, click here.