Abbreviations:
LNG - Liquefied Natural Gas
BCM - Billion Cubic meter
On June 4th India received first shipment from Ghazpron, Russia.
LNG - Liquefied Natural Gas
BCM - Billion Cubic meter
On June 4th India received first shipment from Ghazpron, Russia.
- It is the cheapest of its kind from Russia
- Price is around 1.5USD cheaper from LNG imported from Qatar, India's oldest and largest supplier of LNG
- The LNG from Russia is even cheaper than from its sources, Australia and USA
India's Natural Gas Production and Import:
- India's natural gas production in 2017-18 was 32.64 BCM
- 22.01 BCM - Offshore production
- 10.63 BCM - Onshore producton
- At present half of demand is fulfilled by imports.
- India is 4th largest importer of LNG, Japan being the 1st largest.
- Qatar is the biggest supplier of Natural gas to India
- Recent shipment from Russia is under 20 year deal between India's state owned company GAIL India Ltd and Russian supplier Gazprom
- Govt. Policy is to expand LNG import basket to meet any contingency due to geopolitical or economic reasons.
Importance of Natural Gas & LNG:
- Natural gas is one of key inputs for generating power, manufacturing products in fertilizer and steel industries
- The primary use of LNG is to simplify transport of natural gas from source to destination.
- LNG is used in fuel internal combustion engines.
