Interview: How the war in West Asia could change India’s energy calculus
· Scroll
Visit betsport24.es for more information.
On Wednesday, the war in West Asia shifted significant gears when Israel struck Iran’s South Pars gas field. In retaliation on early Thursday, Iran attacked Qatar’s Ras Laffan plant – the world’s largest liquified natural gas plant from where one-fifth of the global natural gas is exported.
The implications are bound to be felt worldwide: the attack is expected to reduce the country’s export capacity by 17%, and it could take up to five years to repair the damage.
Half of India’s LNG imports come from Qatar alone. Most of this is used by the fertiliser industry, followed by city distribution of pipeline gas for cooking and compressed natural gas.
Experts say the damage to Ras Laffan could directly impact India. “We might see supply crunches of LNG which could lead to price increases for the fuel,” Purva Jain, the South Asia’s Lead Energy Specialist for Gas & International Advocacy at US-based Institute for Energy Economics and Financial Analysis told Scroll.
The LNG supply is now an added worry upon the existing energy supply shortages that emerged with the closure of Strait of Hormuz. The first to hit Indian homes amidst this crisis was the liquified petroleum gas shortage, which had citizens queuing up for cylinders...