India grapples with LNG oversupply as coronavirus dashes demand

At least three companies have asked to delay shipments slated for May and June delivery, according to traders with knowledge of the matter

India’s liquefied natural gas importers are asking suppliers to defer deliveries as measures to curb the spread of the deadly Covid-19 virus have cut demand for the fuel.
 

At least three companies -- Indian Oil Corp., Gujarat State Petroleum Corp. and Petronet LNG Ltd. -- have asked to delay shipments slated for May and June delivery, according to traders with knowledge of the matter, who requested anonymity as the discussions are private. Inventories at import terminals in western India, such as Dahej, are near full capacity, the traders said.
 

The deferrals illustrate the extent of the natural gas glut in