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LNG prices spurt-I: Average prices were at $9.7/mmbtu in December
Jan 24: The recent spurt in LNG prices is making the use of gas almost unaffordable in India.
8The average LNG price in December spiraled to $9.7/mmbtu, up from $ 7.4/mmbtu for the same month last year
8While there was an expectation that prices will be lower on account of a number of new LNG terminals coming up globally, unusually cold conditions globally and a spurt in demand has kept gas prices high.
8The average price of LNG went up from $6.4/mmbtu in April-December, 2016-17 to $7.70/mmbtu for the same period this year.
8Clearly, these are prices which are going to eventually impact demand in the highly price sensitive Indian market where alternative fuel prices, such as naphtha or fuel or even petroleum coke prices are rising at a slower pace than imported gas.
8For now, despite higher prices,
LNG import for the month of December 2017 was 2031.0 MMSCM which was 6.8% higher than the corresponding month of the previous year. The cumulative import of 19389.0 MMSCM for the current year till December 2017 was higher by 3.4% compared with the corresponding period of the previous year.
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