Covid crisis cools Indian demand
LNG cargoes are being diverted away from import terminals in India as escalating Coronavirus cases in the country cool domestic gas demand. Further diversions are expected as India has reported new cases above 300,000 per day for two weeks straight. Prime Minister Modi has so far resisted the call for the government to impose a nationwide lockdown, unlike in Q2 2020. At that time imports fell from a high of 3.52 billion cm in February to 1.95 billion cm in April before steadily recovering, albeit only breaking the 3 billion cm mark again once in October. But with higher LNG prices, the crisis is having a greater impact on India’s LNG importers despite lesser restrictions this time. Data fr
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