INDIA'S LNG IMPORTS UP 18%
NGW - India's LNG imports have continued their double digit year-on-year growth as low prices attracted buyers.
According to latest data published by oil ministry's Petroleum Planning and Analysis Cell (PPAC), LNG imports in October were 2.26bn m³, up almost 18.6% compared with the same month last year. Cumulative imports too remain substantially higher. For the April-October period, India's LNG imports were 14.9bn m³, up by 25% on year.
Around 50% of the total LNG import in October was from Qatar, 10.71% from Singapore, 7.14% each from Nigeria, Spain, Trinidad & Tobago and Equatorial Guinea and 3.57% each from Angola, Malaysia and Belgium. LNG was procured by Petronet LNG, Gail, Gujarat State Petroleum Corporation, Reliance Industries, Hazira LNG,Indian Oil Corporation and Torrent Power.
The cost of importing LNG has dropped sharply this year after New Delhi signed a revised long term contract with Doha. Qatar is the largest supplier of LNG to India. Given the backdrop of low global LNG prices, Petronet LNG insisted on renegotiating its long-term contract with RasGas. In December, the two parties have signed a revised deal. The revised formula bases the price on a three-month average figure of Brent crude oil, replacing a five-year average of a basket of crude imported by Japan.
India has four operational LNG terminals: Dahej, Hazira and Dabhol in northwest India, and Kochi in the southern state of Kerala. According to a document released by the oil ministry on June 3, India's LNG terminal capacity could more than double by 2022 as existing terminals expand capacity and new ones get commissioned.
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WNA - Apart from adding capacity, utilisation of existing plants has improved markedly since 2000. In the 1990s capacity factors averaged around 60%, but they have steadily improved since and in 2010, 2011 and 2014 were above 81%. Balakovo was the best plant in 2011 with 92.5%, and again in 2014 with 85.1%.
WNA - India has a flourishing and largely indigenous nuclear power programme and expects to have 14.6 GWe nuclear capacity on line by 2024 and 63 GWe by 2032. It aims to supply 25% of electricity from nuclear power by 2050.
WNA - Mainland China has 38 nuclear power reactors in operation, about 20 under construction, and more about to start construction. The reactors under construction include some of the world's most advanced, to give a 70% increase of nuclear capacity to 58 GWe by 2020-21. Plans are for up to 150 GWe by 2030, and much more by 2050.
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