India Pays Highest LNG Prices in Years Amid US-Iran Supply Disruptions

India's state-run gas company GAIL India Ltd. has paid over $23 per million British thermal units for a liquefied natural gas cargo scheduled for September delivery. This marks one of the costliest LNG purchases India has made in recent years. The elevated price is linked to supply disruptions stemming from tensions between the US and Iran. The development highlights the vulnerability of India's energy imports to geopolitical instability in key supply regions.
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