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ENB Pub Note: India is critical to global trade and market stability. The article below from LNG Prime points out the new agreement between HPCL and Adnoc Trading. Let’s take a look at the overall history of Indian LNG imports first.
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2023 Estimate: India imported approximately 23.2 million metric tons (around 31.7 billion cubic meters) of LNG in the fiscal year 2022-23 (April 2022–March 2023).
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Recent Trends:
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In 2023, imports grew by 11% (0.3 billion cubic feet per day) compared to 2022, supported by new regasification terminals and lower LNG prices.
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For the first half of 2024, India imported 13.0 million metric tons, a significant year-on-year increase of 31.7%.
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Specific monthly data includes 2.46 million tons in May 2024 (up from 2.03 million tons in April 2024) and 1.7 million tons (2.23 billion cubic meters) in August 2023.
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Qatar: 48.6% of imports, equivalent to approximately 10.9 million metric tons ($6.53 billion, 10.9 billion kg). Qatar’s dominance is reinforced by long-term contracts, including a $78 billion deal to extend imports until 2048.
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United Arab Emirates: 18.5%, around 4.3 million metric tons ($2.23 billion, 3.04 billion kg).
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United States: 11.0%, approximately 2.6 million metric tons ($1.43 billion, 3.18 billion kg). The U.S. is a growing supplier, with potential for further increases as its LNG export capacity expands.
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Oman: 5.6%, about 1.3 million metric tons ($449 million, 810 million kg).
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Australia: 2.8%, roughly 0.65 million metric tons.
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Angola: 2.3%, around 0.53 million metric tons ($450 million, 768 million kg).
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France: 2.3%, approximately 0.53 million metric tons.
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Nigeria: 1.9%, about 0.44 million metric tons.
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Others: 7.0%, collectively around 1.6 million metric tons, including smaller suppliers like Russia, Malaysia, and Norway.
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Import Infrastructure: India’s LNG imports are facilitated by terminals like Petronet LNG’s Dahej (17.5 million tons per annum, 93.4% capacity in April–August 2023), Shell’s Hazira (5 million tons per annum, 36% capacity), and Adani-TotalEnergies’ Dhamra (5 million tons per annum, 18.9% capacity). New terminals and pipeline connectivity are expected to boost future imports.
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Cost and Pricing: In 2023, India paid $6 billion for LNG imports from April to August, down from $8 billion the previous year, reflecting lower global LNG prices.
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Future Outlook: India’s natural gas demand is projected to grow nearly 60% by 2030, potentially doubling LNG imports. The government aims to increase natural gas’s share in the energy mix from 6% to 15% by 2030.
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Data varies slightly across sources due to differences in reporting periods (fiscal vs. calendar year) and units (metric tons vs. cubic meters). Conversions used: 1 million metric tons ≈ 1.38 billion cubic meters.
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The shares from 2022-23 are based on X posts citing the Ministry of Commerce and Industry, which align with trade data from other sources.
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More granular monthly or country-specific data for 2024 is limited, but the first half of 2024 shows continued reliance on Qatar and growing imports overall.
HPCL announced on Wednesday that it has signed an LNG supply and trading agreement with Adnoc Trading.
According to HPCL, the LNG supplies will be received at the recently commissioned Chhara LNG terminal to “meet captive demand of HPCL and also for marketing to other downstream customers.”
HPCL did not reveal the duration of the agreement or the volumes.
This deal is the first LNG supply agreement between the two firms.
HPCL said it marks a “significant step” in the strategic partnership between the two organizations.
The Indian firm also said the deal “underscores the deepening economic ties between India and the UAE, emphasizing the role of LNG in supporting India’s energy transition.”
The Chhara LNG terminal is India’s eighth LNG import facility.
In February, the unit of state-owned ONGC launched commercial operations at its Chhara LNG import terminal.
LNG Prime reported on January 9, citing shipping data, that the delayed Chhara LNG terminal received the commissioning cargo onboard the 2007-built LNG carrier Maran Gas Coronis, owned by a joint venture of Greece’s Maran Gas and Qatar’s Nakilat.
Maran Gas Coronis previously loaded the shipment at the Petronas-operated giant Bintulu LNG complex in Sarawak, Malaysia.
HPCL said on January 13 that Maran Gas Coronis berthed on January 6 and the cargo discharge into the onshore LNG tanks was completed on January 12.
According to HPCL, the LNG terminal has been set up at an investment of 47.5 billion Indian rupees ($560 million) at Chhara Port in Gir-Somnath District in Gujarat.
The LNG terminal features a 1.2 km long jetty capable of receiving carriers with a capacity of 80,000 cbm to 266,000 cbm, and two LNG storage tanks each with a capacity of 200,000 cbm,
It also has facilities for truck loading, regasification, and supply of regasified LNG to the gas grid.
Gujarat State Petronet Limited (GSPL) recently also launched a natural gas pipeline connecting the Chhara LNG import terminal to the grid.
HPSCL said its unit HPCL LNG would operate the terminal on a “tolling” model and is open to third-party users, through long-term capacity booking contracts and/or through master regasification agreement for spot cargoes.
Adnoc currently owns a 70 percent stake in Adnoc LNG, which currently produces about 6 mtpa of LNG from its facilities on Das Island.
In addition, Adnoc announced the final investment decision on its Ruwais project and the EPC award to the joint venture led by Technip Energies in June last year.
The LNG project will more than double Adnoc’s existing UAE LNG production capacity to around 15 mtpa, as the company builds its international LNG portfolio.
BP, Mitsui, Shell, and TotalEnergies agreed to buy a 10 percent equity stake in Adnoc’s LNG export terminal.
To date, up to 8 mtpa of the Ruwais LNG project’s 9.6 mtpa production capacity has been committed to international buyers across Asia and Europe through long-term arrangements, according to Adnoc.
The post India’s HPCL, Adnoc ink LNG supply deal appeared first on Energy News Beat.
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