US Overtakes Qatar as Top LNG Supplier to India Amid Global Price Volatility
The US has emerged as India's largest supplier of liquefied natural gas (LNG), registering a significant 253% year-on-year increase in LNG supply during May-July. According to a report, the US supplied 2.19 million metric tons (MT) of LNG, surpassing Qatar which saw its share decline by 91%. Nigeria and Oman also recorded notable growth with increases of 124% and 341%, respectively.
India's natural gas consumption has shown signs of recovery, with total gas demand rising to 197 million metric standard cubic meters per day (mmscmd) in June. LNG consumption climbed to 110 mmscmd, a growth of 13% over May and 10% from a year earlier.
The report notes that India's import dependence stood at 56%, underlining the growing role of imported LNG in meeting India's energy needs. The country maintained healthy LNG imports despite elevated global prices, with LNG berth arrivals standing at 2.4 MT in May and 2.3 MT in June.