India's LNG Import Bill Soars 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, a significant increase from $4.5 billion in the same period last year.

This surge is largely due to disruptions in supplies from Gulf countries caused by the West Asia crisis, prompting India to diversify its sources and import LNG from 15 countries, up from six earlier.

India has also broadened its crude oil sourcing network, with imports now coming from 41 countries compared with 27 earlier. The country's decision to diversify its energy supplies has reduced dependence on any particular region or transit route and enhanced its ability to manage supply disruptions and market volatility.