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Petronet, Reliance squeezed as China sucks up available LNG supplies

China 2678 Corp - Shipping 840 Energy - Conventional 399 Energy - Natural Gas 128 India 420 Mode - Bulk 122 U.S. 4753

Global liquefied natural gas prices have surged to record highs recently, leading Indian importers to reconsider their spot market imports. Indian imports already dropped 32.7% year over year in dollar terms in the three months to Oct. 31 including a 46.6% slide in shipments linked to Reliance Industries and a 33.2% drop in those associated with Petronet. Increased demand from China has been a factor in the global price rise and has pulled in supplies from the U.S. as part of the two countries’ “phase 1” trade deal. U.S. exports climbed 26.5% year over year in the three months to Nov. 30...

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