India’s natural gas import bill surged by 19.4% to $11.7 billion during April–December of the current fiscal, compared with $9.8 billion in the same period last year, driven by rising consumption, according to data from the Petroleum Planning and Analysis Cell (PPAC). In December, the import bill increased by approximately 9% to $1.2 billion, compared to December 2023. The country imported 28,586 million standard cubic meters (mmscm) of liquefied natural gas (LNG) during the period, reflecting a 24% increase over the corresponding period of FY24. Analysts attributed this growth to a combination of rising demand and stabilised global natural gas prices, which had previously surged to record highs in FY23. India’s natural gas consumption rose by 12% to 55,496 mmscm, driven by higher demand from the city gas distribution (CGD), fertiliser, and power sectors. This pushed the country’s reliance on imported gas to 51.5%, up from 46.3% in the same period last fiscal. (ICE NEW DELHI)

Fonte notizia: Financial Express