India’s Gas Demand Drops as Iran War Hikes LNG Spot Prices
India’s natural gas demand has declined by 1.5 million tons so far this year as the Iran war choked LNG supplies from the Middle East, hiked spot prices, and destroyed some demand across South Asia, energy consultants Wood Mackenzie said in a report. Before the war, WoodMac’s analysts had expected LNG demand across South Asia to rise by 7% this year compared to 2025, or by 2.7 million tons. But after the war trapped most LNG supply from Qatar and the United Arab Emirates (UAE) in the Persian Gulf without any route to bypass the Strait…