India's LNG Import Bill Jumps 24% Amid West Asia Crisis

India's liquefied natural gas (LNG) import bill has risen by 24% to $5.6 billion during April-July of the current financial year, up from $4.5 billion in the same period of the previous year.

The country has increased purchases of LNG and LPG from the US amid the West Asia crisis, which has disrupted supplies from Gulf countries.

India's LNG imports from the US surged by 9.1% to $1.2 billion in July, with import volumes standing at 2,915 million standard cubic meters (mmscm), up 1.5% from 2,872 mmscm in July last year.

The country has diversified its LNG sources from six countries earlier to 15 countries to safeguard energy supplies against supply chain disruptions.

Shipping costs have also increased due to longer distances being transported.