LNG Tender Cancellations by Indian Buyers Amid Price Surge

Indian energy firms, including GAIL India Ltd. and Indian Oil Corp., have canceled their LNG purchase tenders citing prohibitive prices. The decision highlights ongoing concerns over escalating energy costs affecting procurement strategies.

Indian buyers, notably GAIL India Ltd. and Indian Oil Corp., have opted to cancel their liquefied natural gas (LNG) purchase tenders due to skyrocketing prices, according to Bloomberg News.

This action underscores a growing trend where high commodity prices are influencing energy procurement strategies globally.

The soaring costs present significant challenges for companies reliant on LNG, impacting decision-making and potential market dynamics.

(With inputs from agencies.)