Sergey Kondratiev, Principal Director on Economic Studies at the Institute for Energy and Finance, commented to the Kommersant newspaper on the Russian LNG supply to India.
NOVATEK's Yamal LNG project will resume gas supplies under a contract with Gazprom's former Gazprom Marketing & Trading Singapore (GM&T Singapore) to the Indian Gail, sources in the Russian government familiar with the situation told Kommersant.
Probably, the decision of the Russian government will allow Yamal LNG to increase shipments, including to deliver volumes to Gail that were not delivered in 2022, Sergey Kondratiev believes. According to him, SEFE delivered LNG to India in April at $530 per ton, which is significantly cheaper than other traders: imports from the United States cost Indian consumers $658 per ton, from Qatar — $742 per ton.
"These prices were also lower than April spot prices in Europe and East Asia. I think that the main reason for SEFE's return to the contract with Gail is the current excess of LNG supply on the world market," he says.
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