India LPG imports projected to fall 46 percent in March
India LPG imports may fall 46 percent in March due to the Iran conflict. New Delhi is sourcing gas from new regions as local refinery output rises 40 percent.
The escalating conflict in Iran and the strategic blockage of the Strait of Hormuz are expected to result in a near 50% reduction in liquefied petroleum gas (LPG) imports to India this month. As the world's second-largest importer of the fuel, India relies on imports to cover approximately 60% of its total LPG requirements.
Prior to the military strikes conducted by the United States and Israel on February 28, Middle Eastern suppliers accounted for roughly 90% of India's sea-borne LPG arrivals, which reached 22.7 million metric tons last year. However, market data for March shows the share of Gulf exporters has dropped to approximately 55%. Shipping firms such as Dorian LPG Ltd. and BW LPG Limited are navigating a shifting landscape as India seeks to diversify its supply chain.
