After Russian Flows Dry Up, India Pays Up to Double Price for Gas
- GAIL buys several gas shipments for delivery for Oct. to Nov.
- Global energy crisis is straining cash-strapped emerging world
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India purchased some of the nation’s most expensive liquefied natural gas shipments ever after vital Russian deliveries were canceled.
GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year. The New Delhi-based company is struggling to replace supply from the former trading arm of Gazprom PJSC, which was nationalized by Germany earlier this year and is paying contractual fines rather than delivering fuel.