Business
Oman tops India’s September LNG suppliers
The Indian Express··3d ago
Vessel data show Oman led India’s September LNG suppliers at 0.59 million tonnes, up 11.6 percent from August. US volumes fell 60.7 percent to 0.34 million tonnes as European buyers competed for American cargoes. Nigeria shipped 0.35 million tonnes. India’s total imports were 2.24 million tonnes, down 12.7 percent month on month but 7 percent higher year on year.
Prism
What It Means For You
- India relies on LNG imports for about half of its natural gas needs, the report said.
- About 60 percent of those imports earlier moved through the Strait of Hormuz from Qatar and the UAE.
- Oman’s cargoes do not depend on Hormuz, unlike Qatar and UAE shipments.
What's Happening
- Kpler tanker data put Oman and Nigeria ahead of the U.S. among September suppliers to India.
- UAE volumes rose 27.3 percent sequentially to 0.31 million tonnes despite Hormuz disruption.
- Qatar volumes rose 6.7 percent sequentially to 0.1 million tonnes but were down 88.5 percent year on year.
Why The Supplier Order Shifted
- In August the U.S. was India’s top LNG supplier, followed by Nigeria, Oman and the UAE.
- European importers stepped up competition for American cargoes after the West Asia conflict, IE reported.
- Kpler analyst Sonal Ranjan said weaker hydropower and stretched coal plants lifted gas-fired power demand.
all-news
