India pays $23+/mmBtu for LNG, its priciest cargoes since 2022
Indian state energy firms just paid over $23 per mmBtu for September LNG cargoes, the most expensive imports since 2022. Iran's strikes crippled Qatar's export terminal and ships still can't pass the Strait of Hormuz, so GAIL, GSPC and BPCL are bidding up spot gas against cash-rich European buyers. The bill lands on fertilizer producers, the reason New Delhi is scrambling for cargoes.