New Delhi: India’s Liquefied Natural Gas (LNG) imports surged 21 percent year-on-year in April-November period of FY2024-25, pushing up the country’s import dependency to nearly 51 percent. In the year-ago period, India’s LNG import dependency was at 46.5 percent. Official data showed a rise in LNG consumption at 48,682 MMSCM during April-November period of FY2024-25, up from 44,091 MMSCM recorded during the year-ago period. LNG import for the month of November was 2,941 MMSCM which was 21.7 percent higher than the corresponding month of the previous year.
Gross LNG production during April-November period was 24,243 MMSCM, which was lower than the target of 26,217 MMSCM. However, in comparison to the year-ago production figure of 24,081 MMSCM, LNG production so far this year is higher by 0.67 percent only.
Driven by a surge in consumption, India’s crude oil import dependency has touched 88.1 percent in April-November period of FY202-25, up from 87.6 percent in the year-ago period. During the period, India produced 19.1 MMT of crude oil and imported 159.4 MMT, official data showed. The country spent USD 91.8 billion on crude oil imports in April-November period of the current fiscal, up from USD 87.4 billion spent on crude oil imports in the year-ago period.
Total Crude oil processed during November was 21.6 MMT which is 0.1 percent lower than November 2023, where PSU/JV refiners processed 14.7 MMT and private refiners processed 6.9 MMT of crude oil. Total indigenous crude oil processed was 2 MMT and total Imported crude oil processed was 19.6 by all Indian refineries (PSU+JV+PVT). There was a growth of 1.8 percent in total crude oil processed in April-November current Financial Year as compared to same period of previous Financial Year.