0 months ago
India boosts LNG imports as Hormuz crisis hits
India needed more natural gas because a war made it hard to get gas from the Gulf.
So it started buying more gas from the US, Nigeria, Oman, and Angola.
This helped keep gas for cities, farms, and factories.
Prices stayed high, so some industries might use other fuels instead.
India’s LNG imports rose 15.4% YoY to 7.08 Mt in May‑July 2024.
The US became the top supplier, up 252.8% YoY, followed by Oman, Nigeria, and Angola.
Imports from Qatar and the UAE fell sharply due to the Strait of Hormuz blockade.
India prioritized supply over price to meet demand from city gas, fertiliser, power, and ceramics sectors.
Higher LNG prices are expected to push some price‑sensitive sectors toward alternative fuels.
- Who
- India
- What
- Increased LNG imports
- Where
- India
- When
- May-July 2024
- Why
- To meet demand amid Strait of Hormuz disruption
Key facts
- Total LNG imports May-July 2024
- 7.08 million tonnes
- Year-over-year increase
- 15.4%
- Top source
- United States
- US import volume
- 2.19 million tonnes
- Qatar import volume
- 0.23 million tonnes
Quotes
Sonal Ranjan
LNG and natural gas analyst at Kpler
“"Indian market has shown more resilience, since the last dip in March-April, for July 2026 alone we have almost 16% higher year-on-year imports."”
indianexpress.com
Sources
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