India and four other major emerging Asian LNG buyers have spent a combined $7.4 billion on spot liquefied natural gas since the US-Iran war began, more than double the cost of comparable supplies bought under long-term contracts a year earlier, according to a Bloomberg News analysis of purchase tenders.
India, Pakistan, Bangladesh, Thailand and Vietnam — the major non-China emerging-market buyers in Asia — have turned to the spot market after disruptions to LNG shipments through the Strait of Hormuz cut off contracted supplies, pushing up prices.
