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Wood Mackenzie says Iran war cuts South Asian LNG demand by 6 million tonnes

Mountain Time
Local time
2:30 PM UTC
Where
South Asia

Wood Mackenzie said disrupted Middle East LNG supply and higher spot prices have reduced South Asian gas demand by about 6 million tonnes this year, including declines of about 1.5 million tonnes each in India and Pakistan and 3 million tonnes in Bangladesh.

Why it matters

Lower LNG demand reflects unaffordable replacement fuel costs and disrupted Qatari and UAE supply, with Pakistan expected to pay more than $1 billion for winter LNG.

Source

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels