India has witnessed a rapid increase in LPG consumption in recent years. In the financial year 2018-2019, India consumed a record 24.9mn tonnes of LPG which marks a 53% rise from its LPG consumption five years ago, and 6.9% higher than the previous year.
Such high consumption has led to a rise in LPG imports in India. The country has imported 13.2mn tonnes of LPG in the financial year ending March 2019, which is more than double the import volumes in the 2013-14 financial year. LPG Imports were also 15.9% higher than the previous financial year.
To keep pace with the rising imports, India is building an additional 5mn tonnes per annum of LPG import terminal – that is expected to be completed by FY 2020-21.
The robust LPG penetration in the country is attributed to the government run schemes such as Ujjwala, launched in 2016, that has provided about 72mn new LPG connections to households in 714 districts, according to official data. Along with the Ujjwala scheme, a rising middle class population that consumes more LPG has boosted consumption significantly.
At the end of 2018, almost 80% of Indian households had access to LPG – a 56% rise since 2016, according to FGE. The consultancy firm further expects India’s LPG demand to grow by 8% in 2019 and 6.7% in 2020.
More about India’s LPG demand and imports will be discussed at CMT’s 14th LPG Trade Summit
on 11-13 November, 2019, in Athens.
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