India's natural gas ambitions tripping even though imported LNG prices fall

The slowdown could impact India's net zero targets

Last month, Russia’s Novatek CEO Leonid Mikhelson told the St Petersburg International Economic Forum that he sees Asia as the target market for its new LNG projects, and not Europe. Demand will grow in Asia, including in China and India. “These are the target markets for our projects,” Mikhelson said. 

China has been promising this year for LNG but Mikhelson’s optimism is not reflected in India’s--the world's most price sensitive major market for LNG--waning appetite for gas.

India’s natural gas ambitions are tripping even though imported LNG prices have been tanking this year. An 80 per cent reduction in spot