India’s largest liquefied natural gas buyer, Petronet Ltd, signaled that the country will only materially step up LNG consumption if Asian spot prices decline sharply from current levels. Spot LNG in Asia, tracked via Natural Gas (CM:NG), is trading around $11 per MMBtu, while Petronet’s CEO Akshay Kumar Singh indicated that demand in India would accelerate closer to the $6–$7 range. The pricing gap underscores the challenge for India’s policy goal of boosting gas in its energy mix, with affordability remaining a key constraint despite long-term growth potential in industrial and power-sector usage.
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Over the past month, CM:NG has gained about 21%, reflecting tighter global gas balances and seasonal demand, which keeps prices above the level Indian buyers consider attractive for substantial incremental imports. From a technical perspective, the 1-day signal for CM:NG is currently a Buy, suggesting short-term momentum remains positive even as higher prices risk capping demand growth in price-sensitive markets such as India. Investors can explore more updates, prices, and analysis across global markets at Commodities.