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Petronet’s global LNG prices to remain low

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India’s biggest gas importer, Petronet LNG expects global prices of liquefied natural gas, LNG to remain low as supplies continue to rise. This was made known by its managing director, Prabhat Singh.

According to Reuters, he explained that the fertilizer company, Fact Limited had agreed to buy 0.8 million cubic metres of supercooled gas for 310 days in the current fiscal year which helped the company operate its Kochi terminal at a higher capacity.

Recall that Prabhat at the CERAWeek conference had said that the company hopes to increase its imports to around 22 million to 23 million tonnes per year in the fiscal year ending March of 2020, up from just under 20 million the previous year.

Source Reuters
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