Middle East conflict causes India LNG shortages and fuel switching
India's natural gas supplies have taken a hit because of ongoing conflict in the Middle East, causing up to 1.5 million tons of LNG to go missing each month.
Industries like fertilizer and power plants are scrambling: some are switching fuels, others are cutting back production.
Spot prices for gas have shot up, so factories are turning to alternatives like propane and naphtha just to keep things running.
India diversifies LNG suppliers
With fewer shipments coming from Qatar (which used to supply nearly half our LNG), India is now importing more gas from the US Oman, Nigeria, and Angola.
Experts say Russian LNG could soon join the mix as Europe buys less from Russia.
Still, a significant portion of India's LNG from Qatar and most of its LPG imports travel through risky routes like the Strait of Hormuz, making us vulnerable if tensions flare up again.
The situation highlights why India needs more diverse energy sources (and stronger domestic production) to keep things steady in the future.