Why India’s LNG Buying Surges Despite Costly Gas

India’s LNG imports are rising amid one of the most expensive Asian gas markets in years, defying the regional pattern of demand destruction that has pushed other buyers toward coal, nuclear and energy conservation. After Qatar shut down natural gas production on March 2 and the Strait of Hormuz closed almost simultaneously, Asia lost roughly 5.5 million-6 million tonnes of LNG supply a month, equivalent to almost a quarter of regional pre-crisis export flows. Asian LNG imports fell to 18.8 million tonnes in April, the lowest since 2020,…