Bloomberg: India Lures LNG Cargoes as Asia, Europe Cut Imports

“Bloomberg  reported that “India may rank among the largest markets for spot cargoes of liquefied natural gas this year as Japan, South Korea and Spain slash purchases.   India faces a shortage of 80 million cubic meters of gas a day, or more than half of domestic demand, even as economic growth slows  . . . . The emergence of India in the spot LNG market may prop up prices that fell 70 percent from last year’s peak, while diverting tankers from the U.S. and Europe. India is importing at least nine so-called spot cargoes outside of long-term contracts in March and April, compared with two from November to February ” according to data compiled by Bloomberg.  Poten has reported a decrease in Asian LNG demand this year.”