Front-month gas futures for October delivery leapt as much as 10% to $5.010 per million British thermal units (mmBtu), their highest since February 2014
"In the Indian market there was some slowdown, but the situation is not as bad as last year," Manoj Jain.
Due to falling local gas consumption in April and May, GAIL diverted two cargoes to international markets while Petronet deferred one cargo for delivery in June.
Monthly production touched an all-time high of 3.145 bcfd in November 2019.
Producers burned off, or flared, 0.184 bcfd of gas in March, down from 0.203 bcfd in February, the commission said, dropping the percentage of gas flared to 6% from 8%.
Front-month gas futures fell 7 cents, or 2.7%, to $2.569 per million British thermal units.
After utilities started injecting gas into storage in late March, which was earlier than usual, speculators cut their net long positions on the New York Mercantile (NYMEX) and Intercontinental Exchanges for a sixth time in a row last week to their lowest since July 2020.
If correct, last week's decrease would cut stockpiles to 1.776 trillion cubic feet (tcf), which would be 5.3% below the five-year average of 1.875 tcf for this time of year.
Front-month gas futures fell 3 cents, or 1.2%, to $2.498 per million British thermal units.
Tradeable offset credits aim to balance the planet-warming effects of emissions by supporting projects such as forestation and renewable energy generation sites elsewhere in the world.
Repsol said it had supplied 430 cubic metres of LNG to a 150-metre long chemical tanker owned by Swedish firm Furetank Rederi at a terminal owned by system operator Enagas in southeastern Spain.
If correct, last week's decrease would cut stockpiles to 1.807 trillion cubic feet (tcf), which would be 10.7% below the five-year average of 2.023 tcf for this time of year.
Front-month gas futures fell 3 cents, or 1.1%, to $2.786 per million British thermal units.
The Marshall Island tanker Flex Courageous carrying US LNG docked on Friday at the Manzanillo terminal on the Pacific Coast, Refinitiv Eikon data showed.
A second cargo also from the United States on the tanker Seri Balhaf is waiting to discharge about 151,300 cubic meters of LNG at Mexico's Altamira terminal on the Gulf Coast.