While sharing plans about market expansions & all to CNBC TV18, Mr. A Balya, CEO of Petronet LNG accepts the fact about softening of LNG prices in India soon. He mentioned in detail about the Hague expansion project & bidding process invitations.
According to him, Petronet has observed over 35% growth rate in the last quarter due to increase in demands of LNG in the markets. He expected growth in demands along with major projections in the LNG total volumes. Talking about prices, he spoke his concerns on fast-moving prices that don’t replicate anymore over capacity & requirements in the world.
Press Statement…. (While giving interview to CNBC TV 18)
“The LNG capacity is much more than the consumption or demand. Hence, I expect spot LNG prices to be reduced in the upcoming year,” – CEO, Petronet LNG
Why prices need to go down?
- LNG should have no extra duty or XYZ taxes
- LNG should be treated as future fuel in India
- LNG prices should be monitored as per demands not availability
- LNG prices formula not yet defined like other fuels
- LNG market must be taken as Optimistic Potentials
Over the last decades energy security has been emerged as the major problem for the fastest developing economy of the world. After emergence of LNG in the market, the fertility of clean & green fuel grown up in the Indian economy too. But this is not being taken as solution for future energy security as shortage in demands & supply are always there. Its big question whether LNG would able to full fill the shortages in the coming years or not but could be the main potential for energy markets.
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