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LNG’s centrality
Context
India and Qatar have a long-standing trade relationship, primarily fueled by India's heavy imports of Liquefied Natural Gas (LNG) from Qatar. As India’s energy demand grows, LNG plays an even bigger role. During a recent state visit by Qatar's Amir, both nations agreed to double their bilateral trade to $28 billion annually by 2030.
India’s LNG Imports Surge
- India is the 4th largest importer of liquefied natural gas (LNG) from Qatar, USA, Russia and Australia.
- Qatar is India’s largest LNG supplier, contributing to nearly 50% of India’s LNG imports.
- India’s LNG imports from Qatar in 2024 were 82 million tonnes, making up 38.8% of total LNG imports.
- Future Growth in LNG Imports: India’s LNG demand is expected to grow significantly over the next few years due to the government’s plan to increase the share of natural gas in the energy mix to 15% by 2030.
- As a result, India’s LNG imports will double by 2030 to 65 bcm (billion cubic meters) annually.
- Qatar’s LNG Export Capacity Expansion: Qatar is set to increase its LNG export capacity to 142 million tonnes per year (mtpa) by 2027, nearly doubling its current capacity of 77 mtpa.
- This will further cement Qatar as India’s leading LNG supplier.
The US Factor:
- The United States is becoming a strong competitor to Qatar in supplying LNG to India, currently being the second-largest LNG supplier to India.
- The US is expanding its LNG exports, and Indian companies are also exploring long-term contracts with US suppliers.
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