India Imports the Cheapest LNG Cargo from Russia : Know what is LNG
India has received its very first consignment of the cheapest Liquefied Natural Gas (LNG) under a longstanding contract with Russia. The gas has been imported into the country at a price of around $7 per million British Thermal Unit (mmBtu) by the Russian supplier Gazprom. Russia is the largest crude oil and second-largest gas producer in the world.
The amount at which India has received LNG from Russia is far much cheaper ($1.5 per mmBtu cheaper) than that of Qatar, which is India’s biggest and oldest exporter of LNG. Our country is the fourth largest importer of LNG and its objective is to create a gas-based economy and bring diversification in the energy imports, which is currently intimidated by oil and coal.
The LNG cargo was received at the port in Mumbai and according to the r...
