India grapples with LNG glut as consumers balk at high gas rates
India is suddenly facing a glut of liquefied natural gas as the nation’s customers don’t want to pay for high prices and are rushing to alternatives.
Storage tanks at the Dahej and Hazira LNG import terminals in India are near maximum capacity, which means scheduled deliveries may need to be delayed, according to traders with knowledge of the matter.
India is the latest nation to be hit by a surprise glut of LNG — a stark reversal to months of shortages due to tight global supply and missed deliveries from suppliers. A drop in LNG shipments to India could push down global gas prices, providing relief for customers plagued by surging inflation and sky-high power bills.
