India lifts LNG supply restrictions imposed during Hormuz crisis

India has lifted restrictions on liquefied natural gas (LNG) supplies to non-priority sectors following the resumption of shipping and LNG transit through the Strait of Hormuz, according to Reuters.

On March 10, the news agency reported that the Indian government had introduced emergency measures redirecting gas supplies from non-priority industries to key domestic consumers because of a shipping crisis in the Strait of Hormuz linked to the conflict between the United States and Iran.

By April, the strategic waterway had effectively been closed to normal transit. The Strait of Hormuz handles roughly 20% of global LNG shipments.

Before the disruption caused by the conflict with Iran, India met about half of its natural gas demand through imports, with approximately 60% of those imports arriving via the Strait of Hormuz. More than half of the country’s crude oil supplies also passed through the route.

By Jeyhun Aghazada