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This is the peak in the history of national trade data. The last high point occurred in February 2020 (2.672 million tons) due to an unusual excess of LNG available and a sudden drop in worldwide prices caused by the pandemic.
Import growth received a boost from the conclusion of the summer heat peak in the area. During May and June, there was a notable surplus in comparison to the usual weather conditions. During July (and extending into August), the temperatures in the country have neared usual levels, although they remain exceptionally high and demand significant energy for cooling.
Therefore, India was the busiest purchaser of LNG globally in July, compared to the relatively less active buying from South Korea (+17%), Japan (+10%), Taiwan (+6%), and China (+4%). Europe's LNG imports decreased by 25% simultaneously.
Qatar remained the top supplier of LNG to India in July, with 41% of all shipments, delivering 1.128 million tons, which represents a one-third increase. The US contributed 20% of the supplies (560,000 tons), nearly doubling exports.
source: reuters.com
Import growth received a boost from the conclusion of the summer heat peak in the area. During May and June, there was a notable surplus in comparison to the usual weather conditions. During July (and extending into August), the temperatures in the country have neared usual levels, although they remain exceptionally high and demand significant energy for cooling.
Therefore, India was the busiest purchaser of LNG globally in July, compared to the relatively less active buying from South Korea (+17%), Japan (+10%), Taiwan (+6%), and China (+4%). Europe's LNG imports decreased by 25% simultaneously.
Qatar remained the top supplier of LNG to India in July, with 41% of all shipments, delivering 1.128 million tons, which represents a one-third increase. The US contributed 20% of the supplies (560,000 tons), nearly doubling exports.
source: reuters.com