India Buyers Grab Discounted Russia LNG Shunned by Rest of World
- Companies including GSPC recently bought spot LNG from Russia
- India needs cheap fuel as it grapples with an energy crisis
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India’s liquefied natural gas importers are purchasing extra volumes from Russia at a discount as most other spot buyers shun the fuel.
Companies including Gujarat State Petroleum Corp. and GAIL India Ltd. recently bought several LNG spot shipments from Russia at prices below prevailing market rates, according to traders with knowledge of the matter. They may purchase more as long as the Russian fuel remains cheaper than rival suppliers, the people said, who requested anonymity to discuss private details.