Delivered LPG cost for India may vary significantly from West Asia and US: Crisil

The delivered cost of liquefied petroleum gas (LPG) for India may vary significantly across the routes and origin points, with West Asia cargoes tracking the Saudi contract price benchmark and US-linked supplies following Mont Belvieu-based pricing, where freight plays a proportionately larger role, said Crisil Intelligence on Wednesday.

- SHUBHANGI MATHUR

India had earlier this month signed an agreement for the first time with the US to import 2.2 million tonnes per annum of LPG. India is heavily reliant on LPG imports, which meet 55-60 per cent of domestic demand. The country’s LPG import portfolio has traditionally been dominated by the West