India, other Asian buyers spent ₹70,000 crore on spot LNG amid Iran-US war: Report

Major emerging markets, including India, Pakistan and Bangladesh, have collectively spent $7.4 billion (over ₹70,000 crore) on spot LNG since the start of the Iran-US war, Bloomberg reported. A similar volume of the fuel cost about $3.1 billion under long-term contracts during the same period last year. The conflict has disrupted contracted LNG supplies through the Strait of Hormuz.