it's not just EU / UK running tight on gas
The Indian government (GAIL) had a long term deal with Gazprom which is now subject to sanctions; they've been buying in limited additional volumes of LNG to cover the shortfall at massive cost (some 4-5 times the original price agreed with Gazprom)
approaching 50% of the gas used in India is for fertiliser production. The effect of the reduction in flow will likely mean India requiring more imported ferts than less, conservatively 500kt more over the remainder of the year, even if sanctions may be eased. Reality will likely be closer to 1mmt of additional imports
Maybe that sanctions are eased. Who knows? Hungry and cold voters typically want a change of governments...this winter is lining up to be incredibly interesting in the energy and by default, fertiliser industries
The Indian government (GAIL) had a long term deal with Gazprom which is now subject to sanctions; they've been buying in limited additional volumes of LNG to cover the shortfall at massive cost (some 4-5 times the original price agreed with Gazprom)
approaching 50% of the gas used in India is for fertiliser production. The effect of the reduction in flow will likely mean India requiring more imported ferts than less, conservatively 500kt more over the remainder of the year, even if sanctions may be eased. Reality will likely be closer to 1mmt of additional imports
Maybe that sanctions are eased. Who knows? Hungry and cold voters typically want a change of governments...this winter is lining up to be incredibly interesting in the energy and by default, fertiliser industries