India Diversifies LNG Supplies Amid Global Price Volatility
India has secured adequate liquefied natural gas (LNG) supplies to meet demand till September by diversifying its sourcing from the US, the United Arab Emirates (UAE), and Angola. This move comes after Iranian attacks on Ras Laffan Industrial City in Qatar, the world's largest LNG production and export hub.
The development is significant for India, the fourth-largest LNG importer. Gas supplies to India were a concern after the US-Israel war on Iran broke out on February 28, forcing the government to restrict industrial use.
LNG in India is mainly used by fertilizer manufacturers, city gas distribution, and as a transport fuel. The curbs on industrial use have been eased gradually, but there are no signs of peace in West Asia in the near future.