IAS Economy Practice Question . 22

Consider the following statements:
1. India is world’s eighth-largest LNG importer
2. Most of India’s LNG Consumption demand is fulfilled by import
Which among the above statements is/ are correct?
[A]Only 1 is correct
[B]only 2 is correct
[C]Both 1 & 2 are correct
[D]Neither 1 nor 2 is correct

Answer: Only 1 is correct
There has been a rally in the liquefied natural gas market that is threatening to dampen India’s appetite for LNG over the next decade. We are reading in newspapers that to meet its needs, India, the world’s eighth-largest LNG importer is quickly expanding its terminal capacity to 47.5 million tonnes per annum by 2015-16 from 13.5 mtpa currently. Here we should note that India’s gas consumption in 2010 was 171 mmscmd, consisting of imports of 25 mmscmd and domestic production of 146 mmscmd. So only first statement is correct.

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