Make more, store more, or buy more? About 65% of our LPG and 45% of our LNG is imported, and the way out of that import dependence is slow and messy
India is the world’s second largest importer of LPG and the fourth largest importer of LNG. And that means disruptions matter here quickly. So, when global gas markets were rattled after “the largest natural gas supply shock in history” in 2022 and 2023, India realised it needed a plan.
Cutting off Russian gas supplies after it invaded Ukraine had made Europe scramble for quick alternative sources. That, in turn, had diverted LNG away from Asian and Latin American markets, and pushed prices to record highs.
Cutting off Russian gas supplies after it invaded Ukraine had made Europe scramble for quick alternative sources. That, in turn, had diverted LNG away from Asian and Latin American markets, and pushed prices to record highs.