Indian’s natural gas production and consumption have shown signs of recovery in May, analysts at the India Ratings and Research (Ind-Ra) said in a new report on Monday.
The country’s total gas production recovered 6.4% month-on-month to reach 2.30 billion cubic meters (Bcm) in May. Consumption increased 10.9% m-o-m to 4.59 Bcm.
Demand was met by higher liquefied natural gas (LNG) imports, which rose 22.4% to total 2.38 Bcm, Kallanish Energy learns.
Despite the monthly signs of improvement, both production and demand remain lower than last year. Domestic gas output was down 16.05% year-on-year and consumption declined 9.8% y-o-y, the report said.