Operational,Under-Construction & Planned R-LNG Terminals in India
12th September 2016 – Navi Mumbai, India: Market Report on India present the latest report on “Operational,Under-Construction & Planned R-LNG Terminals in India”, will do a detailed primary research to profile different capacity expansion, under-construction, planned and to be announced project in LNG.
Ongoing rout in global crude oil price is a boon for economy like India that largely relies on imports for meeting its energy requirement. As against a record $144.293 billion on import of 184.79 million tonnes of crude oil in 2012-13, India’s oil import bill is stated to fall by 21% to $88 billion in FY15-16. In India, natural gas currently constitutes only 10 percent of the primary energy basket. At the end of March, India’s total natural gas consumption stood at 134 mmscmd against an availability of 90 mmscmd, with the remaining met through imports of R-LNG. LNG imports accounted for about one-fourth of total gas demand. India’s gas demand is estimated to be more than double over the next five years. India increasingly relies on imported LNG; the country was the fourth-largest LNG importer in 2014 and accounted for 5.68 per cent of global imports. In the last 10 years, while India’s domestic production has grown by 10%, India’s imports of R-LNG has grown by 335% due to a major growth in demand, which has risen by almost 46%.
“India’s Future lies in LNG| Ascertaining Potential Medium to Long Term Sustainable Demand for LNG in India”, has projected the demand for natural has in India to reach 366 mmscmd by FY25 and the only way to meet this demand is LNG and hence what was stated by in 2013 now seems to accepted by policy makers and infrastructure planners as a result, 32.5 MT, is set as target yearly regasified LNG import capacity by 2017. India’s LNG regasification capacity is at 22million tonnes per year. The targeted yearly capacity from 2015 to 2016 is 25 million tonnes and 32.5 million tonnes from 2016 to 2017. LNG terminals have been proposed on both the east and west coasts of India, and some of these projects, such as Kakinada and Ennore, have reached advanced stages of the planning phase.
Due to lack of adequate capacity, country has already missed the arbitrage opportunity that existed in the form of subdued global oil and gas prices. Thanks to Qatar, it agreed to waive $1 billion penalty on India for breaking a long-term LNG contract, and has also consented to change the pricing formula to reflect the slump in global energy rates. However, India needs to accelerate its infrastructure capacity creation to be able to meet its emerging gas demand as no matter what, even in the most optimistic scenario it’s unlikely that the gas demand can be met by ONGC.”Operational, Under-Construction & Planned R-LNG Terminals in India: Status Check on Pace of LNG Capacity Creation in India”, will do a detailed primary research to profile different capacity expansion, under-construction, planned and to be announced project in LNG.
Related Research Reports: http://www.marketreportsonindia.com/search.php?q=R-LNG
Market Reports on India
Contact No: India: +91 22 27810772, 27810773