India's High Middle East LNG Reliance Sparks Vulnerability Concerns Amid Geopolitical Tensions

• India has the highest exposure to Middle Eastern LNG imports among major global buyers, with nearly 59.5% of its 2024 LNG imports coming from West Asian countries.
• This reliance is significantly higher than China (26.5%), Japan (10.7%), South Korea (35.3%), and European nations, raising vulnerability amidst geopolitical tensions.
• Supplier concentration is high, with the top five exporters accounting for 83.5% of India's LNG imports, exceeding the global average and other major importers.
• Despite being a major LNG buyer ($15 billion imports), India has significant untapped diversification opportunities, importing minimally from top exporters like Australia and Malaysia.
• A government source confirmed efforts to scout for more LNG cargoes and re-prioritize gas allocations to prevent consumer impact, highlighting the urgency to diversify supply sources.