India has recently experienced a significant increase in its imports of Liquefied Natural Gas (LNG). In June 2024, India imported 2.60 million tonnes (mt) of LNG, marking the highest import volume in 44 months. This represents a notable rise from 1.77 mt in June 2023. The increased LNG imports are closely tied to a rise in gas-based power generation in the country.
Key Data and Trends
Reasons for Increased LNG Imports
Economic and Operational Implications
Future Outlook
Conclusion
The recent rise in LNG imports highlights the growing role of gas-based power generation in meeting India's energy demands, particularly during peak periods. While the increase in imports reflects a short-term response to high demand and favorable international prices, the high cost of imported LNG and dependence on foreign sources underscore the need for a more balanced and sustainable energy strategy. Moving forward, India will need to manage its LNG imports carefully, taking into account global market conditions and domestic energy needs.
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In every Lecture. Director Sir will provide conceptual understanding with around 800 Mindmaps.
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