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Natural gas import bill rises 17% to $12.9-billion in April-January
India’s natural gas import bill surged by 17.2% to $12.9 billion during April–January of the current fiscal, compared with $11.0 billion in the same period last year, driven by rising consumption, according to data from the Petroleum Planning and Analysis Cell (PPAC). In January, the import bill increased by approximately 8.3% to $1.3 billion, compared to January 2024.
The country imported 31,347 million standard cubic meters (mmscm) of liquefied natural gas (LNG) during the first ten months of FY25, reflecting a 21% increase over the corresponding period of FY24. Analysts attributed this growth to a combination of rising demand and stabilised global natural gas prices, which had previously surged to record highs in FY23.
India’s natural gas consumption rose by 10% to 61,282 mmscm, driven by higher demand from the city gas distribution (CGD), fertiliser, and power sectors. This pushed the country’s reliance on imported gas to 51.2%, up from 46.5% in the same period last fiscal.
Despite the rise in imports, domestic natural gas production showed only a marginal increase of 2.6% during April–January. State-owned Oil and Natural Gas Corporation (ONGC) produced 15,763 mmscm of natural gas during this period, a decline from 16,189 mmscm in the same period last year. Production remained below targets, highlighting the widening gap between demand and domestic supply.
India’s LNG imports are expected to moderate in 2025, with growth projected to slow to 10%, compared to 21% in 2024, according to the International Energy Agency (IEA). This slowdown is attributed to tempered demand growth and continued global competition for LNG cargoes.
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