{"id":19170,"date":"2026-10-27T04:40:28","date_gmt":"2026-10-27T11:10:28","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=19170"},"modified":"2026-10-27T04:40:29","modified_gmt":"2026-10-27T11:10:29","slug":"why-indias-natural-gas-spending-rose-faster-than-its-import-volumes","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/","title":{"rendered":"Why India\u2019s Natural Gas Spending Rose Faster Than Its Import Volumes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/#Did_Prices_or_Volumes_Push_the_Bill_Higher\" >Did Prices or Volumes Push the Bill Higher?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/#How_Did_Monthly_LNG_Spending_Move_in_FY27\" >How Did Monthly LNG Spending Move in FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/#Why_Is_Imported_Gas_Taking_a_Larger_Share_of_Consumption\" >Why Is Imported Gas Taking a Larger Share of Consumption?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/#How_Are_Strait_of_Hormuz_Risks_Affecting_Energy_Supply\" >How Are Strait of Hormuz Risks Affecting Energy Supply?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/#What_Changed_in_Indias_Petroleum_Product_Trade\" >What Changed in India&#8217;s Petroleum Product Trade?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/#Final_Outlook\" >Final Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<nav style=\"--separator: &quot;\/&quot;\" class=\"wp-block-breadcrumbs\" aria-label=\"Breadcrumbs\"><ol><li><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/li><li><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/li><li><span aria-current=\"page\">Why India\u2019s Natural Gas Spending Rose Faster Than Its Import Volumes<\/span><\/li><\/ol><\/nav>\n\n\n<meta charset=\"UTF-8\">\n<meta name=\"viewport\" content=\"width=device-width, initial-scale=1.0\">\n<link rel=\"preconnect\" href=\"https:\/\/fonts.googleapis.com\">\n<link rel=\"preconnect\" href=\"https:\/\/fonts.gstatic.com\" crossorigin=\"\">\n<link href=\"https:\/\/fonts.googleapis.com\/css2?family=Figtree:wght@300;400;500;600;700;800&#038;family=Bricolage+Grotesque:wght@700;800&#038;display=swap\" rel=\"stylesheet\">\n<style>\n  :root{\n    --copper:#EFA145; --copper-deep:#D17800; --steel:#424242;\n    --forest:#082F25; --forest-2:#0C3D30; --fresh:#6CE890; --green:#45D965;\n    --mint:#EEFFF2; --mint-2:#F6FFF9; --line:#DDEBE3; --line-soft:#E8F3EC;\n    --red:#C11414; --ink:#2B342F; --grey:#5F6B65; --maxw:820px;\n  }\n  *{box-sizing:border-box;}\n  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rgba(239,161,69,0.18);}\n  .faq-item[open]{border-color:var(--copper);box-shadow:0 2px 10px rgba(239,161,69,0.18);}\n  .faq-q{list-style:none;cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:17px 20px;font-weight:700;color:var(--forest);font-size:16px;}\n  .faq-q::-webkit-details-marker{display:none;}\n  .faq-icon{flex:0 0 auto;width:26px;height:26px;border-radius:50%;background:var(--copper);color:#fff;display:flex;align-items:center;justify-content:center;font-size:16px;font-weight:800;line-height:1;transition:transform .2s ease, background .2s ease;}\n  .faq-item[open] .faq-icon{background:var(--forest);transform:rotate(45deg);}\n  .faq-a{margin:0;padding:0 20px 18px;color:#33413B;font-size:15.5px;line-height:1.6;}\n  .pattern-img{margin:18px 0 22px;border-radius:14px;overflow:hidden;border:1px solid var(--line);background:var(--mint-2);}\n  .pattern-img img{width:100%;height:auto;display:block;}\n  .pattern-img figcaption{padding:10px 16px;font-size:13px;color:var(--grey);text-align:center;border-top:1px solid var(--line);}\n  .video-wrap{position:relative;padding-bottom:56.25%;height:0;overflow:hidden;border-radius:14px;margin:6px 0 22px;border:1px solid var(--line);}\n  .video-wrap iframe{position:absolute;top:0;left:0;width:100%;height:100%;border:0;}\n  @media (max-width:640px){ body{font-size:16.5px;} .masthead{padding:32px 24px 28px;} .body{padding:28px 24px 34px;} h2{margin-top:36px;} table{font-size:14px;} }\n  .entry-title,.post-title,.single-post h1,h1.entry-title{color:#000!important;}\n<\/style>\n\n<div class=\"body\">\n  <p>Data from the Petroleum Planning and Analysis Cell (PPAC) shows India spent $8.5 billion on natural gas imports between April and September FY27. A year earlier, the figure was $6.9 billion. The cost of overseas supplies rose as energy prices climbed during the West Asia conflict.<\/p>\n\n  <h2><span class=\"ez-toc-section\" id=\"Did_Prices_or_Volumes_Push_the_Bill_Higher\"><\/span>Did Prices or Volumes Push the Bill Higher?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n  <p>The rise came mostly from higher prices. Import quantities grew much more slowly than spending.<\/p>\n  <div class=\"tbl-scroll\">\n    <table>\n      <thead>\n        <tr>\n          <th>Period<\/th>\n          <th>LNG Import Volume (MMSCM)<\/th>\n          <th>Change<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>April to September FY26<\/td><td><span class=\"num\">17,414<\/span><\/td><td>Not applicable<\/td><\/tr>\n        <tr><td>April to September FY27<\/td><td><span class=\"num\">18,189<\/span><\/td><td><span class=\"num\">Up 4.4%<\/span><\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p>The import bill held at $1.2 billion, the same as in September last year, even though volumes fell 8.5% to 2,957 MMSCM from 3,233 MMSCM. This means each unit of imported gas cost more on average than a year ago.<\/p>\n\n  <h2><span class=\"ez-toc-section\" id=\"How_Did_Monthly_LNG_Spending_Move_in_FY27\"><\/span>How Did Monthly LNG Spending Move in FY27?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n  <div class=\"tbl-scroll\">\n    <table>\n      <thead>\n        <tr>\n          <th>Month<\/th>\n          <th>LNG Imports ($ billion)<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>April<\/td><td><span class=\"num\">1.18<\/span><\/td><\/tr>\n        <tr><td>May<\/td><td><span class=\"num\">1.35<\/span><\/td><\/tr>\n        <tr class=\"total\"><td>June<\/td><td><span class=\"num\">1.80<\/span><\/td><\/tr>\n        <tr><td>July<\/td><td><span class=\"num\">1.66<\/span><\/td><\/tr>\n        <tr><td>August<\/td><td><span class=\"num\">1.24<\/span><\/td><\/tr>\n        <tr><td>September<\/td><td><span class=\"num\">1.20<\/span><\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p>Monthly spending was highest in June and then fell over the next three months.<\/p>\n\n  <h2><span class=\"ez-toc-section\" id=\"Why_Is_Imported_Gas_Taking_a_Larger_Share_of_Consumption\"><\/span>Why Is Imported Gas Taking a Larger Share of Consumption?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n  <p>Overall demand stayed flat while domestic production fell, so imports made up a bigger share of supply.<\/p>\n  <div class=\"tbl-scroll\">\n    <table>\n      <thead>\n        <tr>\n          <th>Indicator<\/th>\n          <th>April to September FY26<\/th>\n          <th>April to September FY27<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>Domestic production (MMSCM)<\/td><td><span class=\"num\">17,585<\/span><\/td><td><span class=\"num\">16,804<\/span><\/td><\/tr>\n        <tr><td>Total consumption (MMSCM)<\/td><td><span class=\"num\">34,773<\/span><\/td><td><span class=\"num\">34,769<\/span><\/td><\/tr>\n        <tr class=\"total\"><td>Import dependence<\/td><td><span class=\"num\">50.1%<\/span><\/td><td><span class=\"num\">52.3%<\/span><\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n\n  <h2><span class=\"ez-toc-section\" id=\"How_Are_Strait_of_Hormuz_Risks_Affecting_Energy_Supply\"><\/span>How Are Strait of Hormuz Risks Affecting Energy Supply?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n  <p>The Strait of Hormuz is a key route for global oil and LNG trade. The conflict has affected it in several ways:<\/p>\n  <ul class=\"doc\">\n    <li>Commercial ships have been attacked, and maritime traffic has been disrupted<\/li>\n    <li>Shipments of oil and gas from the Gulf have become less certain<\/li>\n    <li>Countries that rely on imports are more exposed to changes in global prices and freight costs<\/li>\n    <li>For India, energy prices that stay high could increase the import bill and put pressure on the current account deficit<\/li>\n  <\/ul>\n\n  <h2><span class=\"ez-toc-section\" id=\"What_Changed_in_Indias_Petroleum_Product_Trade\"><\/span>What Changed in India&#8217;s Petroleum Product Trade?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n  <p>Petroleum products moved in the opposite direction from gas. Import spending fell, and export earnings rose.<\/p>\n  <div class=\"tbl-scroll\">\n    <table>\n      <thead>\n        <tr>\n          <th>Indicator<\/th>\n          <th>April to September FY26<\/th>\n          <th>April to September FY27<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>Product import value<\/td><td><span class=\"num\">$11.4 billion<\/span><\/td><td><span class=\"num\">$8.6 billion<\/span> (down 24.5%)<\/td><\/tr>\n        <tr><td>Product import volume<\/td><td><span class=\"num\">25.6 million tonnes<\/span><\/td><td><span class=\"num\">13.4 million tonnes<\/span><\/td><\/tr>\n        <tr><td>Product export value<\/td><td>Not specified<\/td><td><span class=\"num\">$26.6 billion<\/span> (up 33%)<\/td><\/tr>\n        <tr><td>Product export volume<\/td><td>Not specified<\/td><td><span class=\"num\">26.2 million tonnes<\/span> (down 18%)<\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p>Export volumes fell because domestic supply was given priority during the global supply shortage. Export earnings still went up because petroleum product prices rose along with oil prices.<\/p>\n\n  <h2><span class=\"ez-toc-section\" id=\"Final_Outlook\"><\/span>Final Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n  <div class=\"outlook\">\n    <p>Security risks around the Strait of Hormuz persist, and talks between Washington and Tehran have made little progress. With domestic gas output falling, the cost of India&#8217;s gas supply in the second half of FY27 will depend more on global cargo prices and freight conditions.<\/p>\n  <\/div>\n\n  <div class=\"disclaimer\">\n    <strong>Disclaimer:<\/strong> This content is for education and awareness purpose only and should not be considered investment advice or a recommendation. Investments in securities markets are subject to market risks. Read all the related documents carefully before investing.\n  <\/div>\n\n  <div class=\"source\">\n    <strong>Source:<\/strong> Moneycontrol\n  <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Data from the Petroleum Planning and Analysis Cell (PPAC) shows India spent $8.5 billion on natural gas imports between April and September FY27. A year earlier, the figure was $6.9 billion. The cost of overseas supplies rose as energy prices climbed during the West Asia conflict. Did Prices or Volumes Push the Bill Higher? The &hellip; <a href=\"https:\/\/shoonya.com\/blog\/why-indias-natural-gas-spending-rose-faster-than-its-import-volumes\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Why India\u2019s Natural Gas Spending Rose Faster Than Its Import Volumes&#8221;<\/span><\/a><\/p>\n","protected":false},"author":17,"featured_media":19177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1082],"tags":[10842],"class_list":["post-19170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-indias-natural-gas-spending"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>India Gas Imports in FY27 H1: PPAC Data Explained<\/title>\n<meta name=\"description\" content=\"Falling domestic output and costlier overseas 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