Section: Newsletter

Brent Spot Price

LNG remains cheaper than other alternative fuels. Spot LNG prices was 49% and 50% cheaper than FO and LPG respectively in Nov’20.

Average monthly term LNG prices have been flat since Sep’20 due to stable Brent prices. Average monthly spot LNG prices were 15% cheaper than average term LNG prices in Nov’20.

The price of domestically produced Natural Gas slashed to USD$1.79/MMBtu for Oct’20-Mar’21 period. The ceiling price for gas from deepwater, ultra-deepwater, HPHT fields cut to US$4.06/ MMBtu.

All terminals received cargoes except Ennore. Imports at Dahej accounted for 64% of the total imports in Nov’20.

LNG imports were 28% higher Y-o-Y in Nov’20 as both spot and term imports surged by 9.5% and 68% respectively. On M-o-M basis, LNG imports were down 17.4%.

The M-o-M net Natural Gas Consumption was slightly down by 2.3% in Nov’20. The decrease was due to lower offtake by power, refinery, petrochemicals and other industries.

The Y-o-Y Natural Gas Consumption in Nov’20 was a tad higher at 1.4%. The drop of 9.3% Y-o-Y in domestic production was offset by higher LNG imports.

Both domestic production and LNG imports increased M-o-M in Oct’20. The total gross Natural Gas consumption surged slightly by 1% Y-o-Y to 181.5MMSCMD in Oct’20.

The price of domestically produced Natural Gas slashed to USD$1.79/MMBtu for Oct’20-Mar’21 period. The ceiling price for gas from deepwater, ultra-deepwater, HPHT fields cut to US$4.06/ MMBtu.