India's liquefied natural gas (LNG) import map was redrawn in September as Oman overtook the United States to become the country's single largest supplier, the latest sign of how the West Asia conflict is reshaping global energy flows.
According to tanker-tracking data from analytics firm Kpler, India imported 585,000 tonnes of LNG from Oman in September — up 11.6 per cent from August — giving the Gulf nation a 27 per cent share of India's total LNG imports for the month. The United States, which had held the top slot in recent months, slipped to third after shipments to India crashed roughly 60 per cent month-on-month to about 0.34 million tonnes.
How the rankings shifted
Nigeria emerged as the second-largest supplier with 351,000 tonnes, despite a 35 per cent month-on-month decline. The UAE was fourth with 311,000 tonnes, up 27.3 per cent from August, followed by Angola. Qatar — once India's dominant supplier with around a 45 per cent share — fell to sixth place at about 94,000 tonnes, or 4.3 per cent of imports, as disruptions lingered from the March strike on its Ras Laffan LNG hub.
India's overall LNG imports declined 14 per cent month-on-month to 2.17 million tonnes in September from 2.5 million tonnes in August, as New Delhi prioritised supply security over price.
Why the reshuffle happened
Two forces drove the change. Continued disruption to supplies through the Strait of Hormuz pushed India to seek cargoes from sources that do not depend on the critical waterway. At the same time, European buyers stepped up competition for American cargoes amid low gas storage levels ahead of winter, drawing US shipments away from Asia.
Robust Indian demand has led importers to compete hard in the spot market at elevated prices, even as other major Asian buyers cut back. Wood Mackenzie's latest analysis noted that India's tender award prices jumped from $16.8–18.8 per MMBtu between March and June to as much as $26.4 per MMBtu by September, yet demand stayed firm.
Natural gas remains vital for fertiliser production, industrial heating, power generation and urban transport, and India imports roughly half of what it consumes — with about 60 per cent of West Asian shipments transiting the Strait of Hormuz.
Sources:
- The Indian Express: India diversifies LNG sources beyond Hormuz; Oman tops imports in September
- The Financial Express: How bypassing Hormuz made Oman India's top LNG supplier
According to tanker-tracking data from analytics firm Kpler, India imported 585,000 tonnes of LNG from Oman in September — up 11.6 per cent from August — giving the Gulf nation a 27 per cent share of India's total LNG imports for the month. The United States, which had held the top slot in recent months, slipped to third after shipments to India crashed roughly 60 per cent month-on-month to about 0.34 million tonnes.
How the rankings shifted
Nigeria emerged as the second-largest supplier with 351,000 tonnes, despite a 35 per cent month-on-month decline. The UAE was fourth with 311,000 tonnes, up 27.3 per cent from August, followed by Angola. Qatar — once India's dominant supplier with around a 45 per cent share — fell to sixth place at about 94,000 tonnes, or 4.3 per cent of imports, as disruptions lingered from the March strike on its Ras Laffan LNG hub.
India's overall LNG imports declined 14 per cent month-on-month to 2.17 million tonnes in September from 2.5 million tonnes in August, as New Delhi prioritised supply security over price.
Why the reshuffle happened
Two forces drove the change. Continued disruption to supplies through the Strait of Hormuz pushed India to seek cargoes from sources that do not depend on the critical waterway. At the same time, European buyers stepped up competition for American cargoes amid low gas storage levels ahead of winter, drawing US shipments away from Asia.
Robust Indian demand has led importers to compete hard in the spot market at elevated prices, even as other major Asian buyers cut back. Wood Mackenzie's latest analysis noted that India's tender award prices jumped from $16.8–18.8 per MMBtu between March and June to as much as $26.4 per MMBtu by September, yet demand stayed firm.
Natural gas remains vital for fertiliser production, industrial heating, power generation and urban transport, and India imports roughly half of what it consumes — with about 60 per cent of West Asian shipments transiting the Strait of Hormuz.
Sources:
- The Indian Express: India diversifies LNG sources beyond Hormuz; Oman tops imports in September
- The Financial Express: How bypassing Hormuz made Oman India's top LNG supplier
