Indian buyers, often quick to capitalize on price drops, are increasingly entering the liquefied natural gas (LNG) market as prices dip below $13 per British thermal unit (BTU), making the fuel more affordable compared to alternatives. According to traders, the price reduction has prompted a flurry of activity from Indian buyers, who are actively seeking spot market purchases.
Indian Oil Corp. and Bharat Petroleum Corp. are reportedly exploring opportunities to secure cargoes for delivery in the coming months. Meanwhile, Hindustan Petroleum Corp. has already bought a shipment priced at approximately $12.80 per BTU.
The recent global price decline in LNG follows a series of factors impacting the market. In Europe, milder weather conditions and the possibility of continued Russian fuel imports have put downward pressure on prices. Speculation regarding U.S. President Donald Trump’s decision to scale back American support for Ukraine has also influenced European markets. While Asian LNG prices have similarly fallen, the drop has been less significant compared to Europe, as inventories remain plentiful and demand slows as winter nears its end.
Related topic:
U.S. Crude Exports to India Hit Two-Year High
