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Global Gas Shortage Worsens as Emerging Asia Joins the Hunt

  • India returns to LNG spot market to buy expensive cargoes
  • Indonesia asks gas producers to prioritize local demand
Updated on

The hunt for natural gas is spreading to Asia’s developing economies, with India and Indonesia adding to the global demand pressure.

Indian Oil Corp. and Gujarat State Petroleum Corp. have recently bought spot cargoes of liquefied natural gas after being absent from the market for months, according to traders. Indonesia -- a major exporter -- has asked its gas producers to prioritize local customers, while Thailand and Bangladesh are also seeking prompt LNG shipments via tenders released in the last few days.