India's gas demand fell by 1.5 million tonnes — OilPrice

In India, demand for natural gas has fallen by 1.5 million tonnes since the beginning of 2026, OilPrice reports, citing an assessment by consulting firm Wood Mackenzie. According to analysts, demand was affected by restrictions on liquefied natural gas supplies from the Middle East and rising LNG spot prices.

Outlook revised for South Asia

Before the war in Iran, Wood Mackenzie expected LNG demand in South Asia to increase by 7% in 2026 compared with 2025, or by 2.7 million tonnes. Following supply disruptions, analysts now expect demand in the region to decline by about 6 million tonnes.

According to Wood Mackenzie, the shortage of Middle Eastern LNG reduced demand in Bangladesh by 3 million tonnes and in India and Pakistan by about 1.5 million tonnes in each country. The company noted that supplies from Qatar and the United Arab Emirates were blocked in the Persian Gulf, with no route bypassing the Strait of Hormuz.

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Tender prices rose

India, according to Wood Mackenzie, weathered the supply crisis more easily than Pakistan and Bangladesh thanks to its more diversified supplier base. In addition to Qatar and the UAE, the country purchases LNG from the United States, Nigeria and Oman.

At the same time, prices at which tenders were awarded in India rose to $26.4 per million British thermal units by September. In March-June, they ranged from $16.8 to $18.8 per MMBtu. Despite the price increase, tender demand remained resilient, according to Wood Mackenzie.