India Ramps Up LNG Imports Amid Power Crunch ...Middle East

OILPRICE - Economy
India Ramps Up LNG Imports Amid Power Crunch
source : OILPRICE ( Middle East ) () 18
Despite exorbitant prices, India has been buying additional cargoes of liquefied natural gas to battle a power supply crunch that has caused blackouts in one of the world’s most populous countries. At least two Indian utilities bought LNG cargoes on the spot market this week, for same-month delivery, at prices about three times higher than the normal for spot markets amid tightening global gas supply, Bloomberg reports, citing unnamed sources. Natural gas only represents a tiny portion of India’s power generation mix; however, a persistent…

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