India Ramps Up Global LNG Hunt, Eyes US, Australia, Africa to Cut Gulf Reliance
India Ramps Up Global LNG Hunt, Eyes US, Australia, Africa to Cut Gulf Reliance
- •India fast-tracks energy pivot, diversifying LNG sources beyond the Gulf due to West Asia conflict and Qatar supply disruptions.
- •New strategy aims to reduce heavy reliance on transit points like the Strait of Hormuz, deemed a "major strategic risk."
- •Key focus on expanding supply chains from the US, Australia, Africa, Russia, Norway, Canada, Peru, Angola, and Nigeria.
- •Prioritizing supply security over cost in the short term, despite surging spot market prices (USD 24-25 per MMBtu).
- •Exploring safer shipping routes and potential naval protection for LNG vessels, engaging with global traders and state entities.
