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Value of natural gas imports rose 43% between Apr 2021-Sep 2022
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IANS | 03 Jan, 2023
There has been a 43 per cent increase in the value of natural gas which
India has imported between April 2021 and September 2022, according to
Petroleum Ministry sources.
However at the same time, there has been a decline in the quantity of natural gas imported during the period under review.
In
fact, the import bill of petroleum products has increased by 39.6 per
cent in the first half of 2022-23 in comparison to 2016-17, primarily
due to increase in quantity due to demand growth, price increase in the
international market, and exchange rate changes, sources aware of the
development said.
According to official data, India imported
1,878 MMSCM of natural gas in September 2022. This was 34 per cent less
than 2,847 MMSCM of gas imported in April 2021.
The value of
2,847 MMSCM of natural gas imported in April 2021, however, was $769
million, while the value of 1,878 MMSCM gas imported in September 2022
was $1,354 million, 43 per cent more.
Sources say that oil PSUs import petroleum products to bridge the supply demand gap in the domestic market.
To
gradually reduce dependency on imports of petroleum products, the
government had launched the National Biofuel Policy 2018. This is aimed
at boosting availability of biofuels in the country and encourage use of
alternative fuels like ethanol, bio-diesel and bio-CNG through ethanol
blending as well as bio-diesel blending.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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