The US displaced the UAE to emerge as India’s second largest supplier of liquefied natural gas (LNG) in 2023, accounting for 3.09 million tonnes (MT).
LNG is emerging as a substitute fuel in the transition towards green energy.
Experts attributed the development to weakening LNG prices in international markets as well as India’s proximity, via the Cape of Good Hope, to US LNG cargoes compared to North Asia.
The US also emerged as the world’s largest LNG exporter in 2023.
India, the fourth largest LNG importer, scaled back in 2022 owing to rising prices and shipments from the US declined to 2.16 MT.
Qatar remained India’s largest LNG supplier for five years running (2019-2023).
