Key Price Index
September 14, 2021
Brent crude oil spot prices averaged US$75/barrel in Jul’21, US$2/barrel higher from the average in June and up US$25/barrel from the end of 2020. EIA expects Brent prices to remain near current levels for the remainder of 2021 and average US$72/barrel during Aug’21-Nov’21 period.
Henry Hub Spot Price
Henry Hub Natural Gas spot price averaged US$3.84/MMBtu in Jul’21. EIA expects prices to average US$3.71/MMBtu in Q3’21 and US$3.41/MMBtu in 2021.
LNG Vs Alternative Fuels
LNG is still cheaper than other alternative fuels. The average LNG spot price was 34% and 32% lower than FO and LPG respectively in Jul’21.
LNG prices by Contract Type
Spot LNG prices have surged by 25%M-o-M in Jul’21. As compared to Jul’20, Spot LNG prices were up by a whopping 120.5% in Jul’21.
Domestic Natural Gas prices
The price of domestically produced Natural Gas remained unchanged at USD$1.79/MMBtu for Apr’21-Sep’21 period. The ceiling price for gas from deepwater, ultra-deepwater HPHT fields reduced to US$3.62/ MMBtu.
LNG Imports By Terminal
No imports at Dabhol and Mundra in Jun-Jul’21. Dahej and Hazira accounted for 74% and 22% of the total imports during the month.
LNG Imports by Contract Type
The Y-o-Y LNG imports declined by 24% in Jul’21. Spot LNG imports were down by 33.5% Y-o-Y owing to higher spot LNG prices.
Natural Gas Consumption by Sector
Fertilizer and power sectors accounted for 46% of the total net consumption of natural gas in Jul’21. The consumption by petrochemical sector surged by 84%M-o-M in Jul’21.
Natural Gas Consumption
Domestic supply reached 91MMSCM/D in Jul’21. RLNG supply was up 17.3% M-o-M in Jul’21.
Brent crude oil spot prices averaged US$73/barrel in Jun’21, up US$5/barrel from May’21 and US$33/barrel higher Y-o-Y. EIA expects rising production will keep prices similar to current levels, averaging US$72/barrel during H2 2021.
Henry Hub natural gas spot prices averaged $3.26/MMBtu in June’21. EIA expects Henry Hub prices to average of US$3.22/MMBtu in 2021, and then fall to an average of US$3.00/MMBtu in 2022.
Even after the increase in spot LNG prices, it was still cheaper than FO and LPG by 41% and 40% respectively in Jun’21.
H-Energy Private Limited
Western Concessions Private Limited
HE Marketing Private Limited
H-Energy East Coast Private Limited
HE Terminals Private Limited
- Privacy & Policy
- Terms & Conditions
12th Floor, Knowledge Park,
Hiranandani Business Park,
Powai, Mumbai - 400 076, India.
T: +91 22 2571 5100
F: +91 22 2576 3777
514, Dalamal Towers, 211 FPJ Marg,
Nariman Point, Mumbai – 400 021,
T: +91 22 2287 6060
F: +91 22 2283 2010