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India gas demand gradually picking up as virus restrictions ease

May 19/2020

MOSCOW (MRC) -- Indias natural gas consumption is recovering slowly as the worlds biggest lockdown starts to ease with the gradual resumption of economic and industrial activity, reported Reuters with reference to several industry sources.

Prime Minister Narendra Modis government is starting to pull back from one of the worlds tightest lockdowns of 1.3 billion people, which has left millions out of work and stranded in cities far from home while infections keep rising.

The government has already allowed some economic activity to resume in areas where there are few cases of COVID-19, the disease caused by the coronavirus.

"Gas demand is rising as some industries are back, like chemicals and pharmaceuticals. Every industry wants to start operations," a liquefied natural gas (LNG) industry official based in India said.

"Some textile, ceramic, and steel (businesses) have started operations, (and) demand from refineries is back to normal."

As MRC informed before, Gulf Cooperation Council (GCC) mono ethylene glycol (MEG) imports into India may be severely hurt as a result of an ongoing anti-dumping investigation targeting imports from Oman, Saudi Arabia, Kuwait & UAE, as per Gulf Petrochemicals and Chemicals Association (GPCA). According to GPCA analysis, the inconsistent investigative practices by Indian authorities on anti-dumping regulations raise serious concerns under World Trade Organization (WTO) rules and threaten to severely hurt GCC economies, jeopardising USD543 million worth of MEG imports, which is equivalent to 20% of total chemical imports from the region into India.

MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).

As per MRC's ScanPlast report, Russia's estimated PET consumption decreased to about 53,890 tonnes in February 2020, down by 3% year on year. 100,830 tonnes of PET chips were processed in Russia in the first two months of 2020. February PET production in Russia dropped to 45,800 tonnes, down by 5% year on year. Russia's overall PET production fell  in January-February 2020 by 13% year on year.
Author:Margaret Volkova
Tags:Near East, monoethylene glycol (MEG), PET-granulate, gas processing, petrochemistry, packaging, textile, pharmaceuticals, India, Rossiya.
Category:General News
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