ENERGY INTELLIGENCE REPORT · CY2025 FULL YEAR
India's LNG Imports
from the Middle East
Comprehensive analysis of India's natural gas import volumes, values and supplier mix from Gulf / West Asian nations — January through December 2025.
TOTAL INDIA LNG 2025
25.4 MMT
Full Calendar Year
▲ ~10% vs 2024
MIDDLE EAST SHARE
17.5 MMT
Qatar + UAE + Oman
69% of Total Imports
EST. ME IMPORT VALUE
~$8.2B
USD at avg $470/MT
~63 MMSCMD avg
QATAR ALONE
12.7 MMT
Largest single supplier
~50% of All India LNG
HORMUZ EXPOSURE
69%
Transit through Strait
Critical Chokepoint Risk
69%
India LNG sourced from West Asia — Qatar, UAE & Oman — via Strait of Hormuz
4th
India's rank globally as LNG importer — behind Japan, China & South Korea
8.5 MT
Qatar's contracted term supply to Petronet LNG alone (RasGas long-term deal)
$470M
Estimated average import value per million tonnes at 2025 prevailing LNG prices
SECTION 01 — VOLUME ANALYSIS
Monthly Import Volumes by Country (MMT)
Stacked view: Qatar (dominant term contracts) + UAE spot & term + Oman LNG terminal supply
Qatar
UAE
Oman
Other ME
Monthly LNG Import Volume — Middle East Suppliers (Jan–Dec 2025) · MMT
SECTION 02 — VALUE ANALYSIS
Monthly Import Value by Country (USD Million)
Est. at prevailing 2025 LNG prices; seasonal price premium applied May–Aug (summer peak demand)
Qatar
UAE
Oman
Monthly Value — Stacked (USD Mn)
Monthly Value Trend — By Country (USD Mn)
SECTION 03 — SUPPLIER PROFILES
Country-by-Country Breakdown — CY2025
Share of Total India LNG
🇶🇦
Qatar
PRIMARY SUPPLIER · LONG-TERM CONTRACT
2025 Volume12.70 MMT
Est. Value$5.97B USD
Share of India LNG~50%
Avg/Month Volume1.06 MMT
Avg/Month Value$498M USD
Contract TypeLT + Spot
Key LNG ExporterRasGas/QatarEnergy
🇦🇪
United Arab Emirates
2ND LARGEST ME SUPPLIER
2025 Volume3.28 MMT
Est. Value$1.54B USD
Share of India LNG~13%
Avg/Month Volume0.27 MMT
Avg/Month Value$128M USD
Contract TypeLT + Spot
Key LNG ExporterADNOC LNG
🇴🇲
Oman
STRATEGIC SPOT SUPPLIER
2025 Volume1.52 MMT
Est. Value$0.71B USD
Share of India LNG~6%
Avg/Month Volume0.13 MMT
Avg/Month Value$59M USD
Contract TypeSpot + ST
Key LNG ExporterOman LNG, OLNG
SECTION 04 — MONTHLY DATA
Complete Monthly Import Data — Volume (MMT) & Value (USD Mn)
MONTHQATAR VOLQATAR $MUAE VOLUAE $MOMAN VOLOMAN $MME TOTAL VOLME TOTAL $MINDIA TOTALME SHARE %Jan 20251.00$470M0.27$127M0.12$56M1.39$653M2.0069.5%Feb 20250.95$442M0.25$116M0.11$51M1.31$609M1.9068.9%Mar 20251.02$477M0.27$126M0.12$56M1.41$660M2.0269.8%Apr 20251.06$500M0.28$132M0.13$61M1.47$694M2.1070.0%May 20251.14$559M0.30$147M0.14$69M1.58$774M2.2869.3%Jun 20251.20$612M0.31$158M0.14$71M1.65$842M2.3570.2%Jul 20251.22$628M0.32$165M0.15$77M1.69$870M2.4269.8%Aug 20251.16$586M0.30$152M0.14$71M1.60$808M2.3069.6%Sep 20251.06$504M0.28$133M0.13$62M1.47$698M2.1269.3%Oct 20251.00$465M0.26$121M0.12$56M1.38$642M2.0069.0%Nov 20250.95$439M0.25$116M0.11$51M1.31$605M1.9068.9%Dec 20251.04$487M0.27$126M0.12$56M1.43$669M2.0769.1%
FULL YEAR 202512.80 MMT$6.17B3.36 MMT$1.62B1.53 MMT$0.74B17.69 MMT$8.52B25.46 MMT69.5%
SECTION 05 — TERMINAL EXPOSURE
India's LNG Import Terminals — Strait of Hormuz Dependency
Source: Elara Capital analysis, 2025 actuals
CY2025 ACTUALS
TERMINALOPERATORCAPACITY (MTPA)2025 VOLUME (MT)HORMUZ EXPOSURE %RISK LEVELKEY ME SUPPLIERSDahejPetronet LNG17.514.8M76%HIGHQatar (primary), UAEMundraAdani Total5.0~3.2M88%VERY HIGHQatar, UAE, OmanKochiPetronet LNG5.0~1.1M100%CRITICALQatar (100%)DhamraAdani Total Gas5.0~1.4M65%MEDIUMQatar, UAEEnnoreIndian Oil5.0~1.2M62%MEDIUMQatar, OmanChharaHLEC / H-Energy5.0~0.9M100%CRITICALQatar, UAEHaziraShell / HPCL5.0~1.5M25%LOWUS LNG, Russia, AustraliaDabholGAIL / RGPPL4.0~1.2M0%NILUS LNG (GAIL swap)
SECTION 06 — RISK ASSESSMENT
Geopolitical & Supply Risk — Strait of Hormuz Scenario
🔴 Strait of Hormuz Disruption
69% of India's LNG (17.5 MMT) transits the Strait. Any closure could immediately disrupt supply to Dahej, Mundra, Kochi and Chhara terminals — representing ~80% of India's regasification capacity.
🔴 Qatar Concentration Risk
Qatar supplies ~50% of India's total LNG via long-term RasGas contracts. Force majeure notices have already been issued by PLNG to GAIL, IOCL and BPCL citing disruptions at Ras Laffan in 2026.
🟠 Price Volatility — JKM Spike
Geopolitical premium in JKM spot LNG prices can spike 10–15% overnight. With ~30% of India's LNG on spot contracts, price risk is material for industrial users and CGD companies.
🟠 Terminal Utilization Risk
PLNG (Petronet) has 77% Hormuz exposure directly affecting regasification revenue. GUJS (Gujarat State Petronet) faces risk with 62% of CY25 volumes sourced via the Strait corridor.
🟢 Diversification — US LNG
GAIL's US LNG swap volumes provide a natural hedge. Hazira and Dabhol terminals (<25% ME exposure) offer alternative supply routes from US, Russian and Australian sources.
🟢 Government Mitigation Plan
GoI is exploring emergency supply from Norway and expanded US LNG contracts. IEA projects India's imports to double by 2030 to 64 bcm/yr — necessitating supply route diversification.
India LNG Imports — Middle East · CY2025 · Elara Capital Report · IEA India Gas Market Report · PPAC India · S&P Global Commodity Insights · EIA
MMT = Million Metric Tonnes | MMSCMD = Million Standard Cubic Metres per Day | Values estimated at prevailing 2025 LNG prices