LNG’s trail from Qatar’s well-head to Indian factories and kitchens. Why this war is different for different sectors – and the market

The latest Gulf war is not only about price spikes in crude oil or natural gas – but also about their availability. The supply shock is more severe as compared to the past. It has also underlined the Indian economy’s dependence on LNG. What is less commonly understood is the precise architecture of that dependence – how the contracts for LNG supplies are structured, who the offtakers are, and what force majeure actually triggers in this chain. Given the fact that this time uncertainty might continue for more time...