Amidst rising crude oil prices and renewed US-Iran tensions impacting the Strait of Hormuz, India's energy security is under scrutiny. While crude oil imports are diversified, LPG and LNG supplies, heavily reliant on the Middle East, face significant risks from shipping disruptions and increased costs.
Amidst rising US-Iran tensions impacting the Strait of Hormuz, India's crude oil imports remain diversified. However, its LPG and LNG supplies, heavily reliant on the Middle East, face significant risks due to potential shipping disruptions and increased costs.
European underground gas storage facilities are 50.03% full, the lowest in five years, holding 11 bcm less than last year. Net gas injection is at a six-year low, and daily LNG imports fell to a 22-month low in early July 2026, despite a heatwave and replenishment needs.
Europe's liquefied natural gas (LNG) imports fell to a ten-month low in June, dropping 13% from May and 18% year-on-year. This decline is attributed to intense competition with Asia for market volumes, exacerbated by the Middle East crisis. Despite the June dip, total LNG inflows from January to June reached a record high, though growth slowed significantly.
Japan relies on Malaysia for 15% of its LNG imports, making it a crucial supplier. This is important as Japan seeks to diversify from supply routes like the Strait of Hormuz.
China's January-April LNG imports from Russia rose 16% to 2.02 million tons, but fell 4.6% in value to $992.77 million. Russia ranks fourth, behind Australia, Qatar, and Malaysia, with US supplies absent.
Russia's LNG exports to China increased by 16% from January to April, reaching 2.02 million tons. Despite the volume increase, the value decreased by 4.6%. Russia is now the fourth-largest LNG exporter to China.
Russia was the second-largest supplier of liquefied natural gas (LNG) to the European Union in March, accounting for 26.1% of imports by value, according to TASS calculations based on Eurostat data. The EU imported approximately 933 million euros worth of Russian LNG, a 12.5% increase year-on-year and the highest since January 2025.
The EU's imports of Russian LNG surged 16% year-over-year in Q1, despite plans to phase out Russian fossil fuels by 2027, due to the energy crisis exacerbated by the US-Israeli war on Iran and global LNG market disruptions.
Europe maintained LNG imports at last year's record highs in April due to the need to accelerate fuel pumping into storages for winter. LNG flows to the EU gas transportation system amounted to 12.61 billion cubic meters, 7% below March and 0.1% less than April 2025. From January to April, LNG pumping reached over 50.8 billion cubic meters, up 9% year-over-year. LNG supplies accounted for 36.2% of Europe's gas sources in this period, followed by North Sea (28.3%), storage withdrawals (21.3%), North Africa (7.2%), and Eastern supplies at 4.6%.
Multiple news items covering US-Russia diplomatic engagement on Ukraine ceasefire, US threats of military action against Iran, China's 18.2% increase in Russian LNG imports, and various related geopolitical developments. Trump stated he offered Putin a 'little bit of a ceasefire' for the Victory Day period, while also indicating new strikes on Iran hinge on nuclear talks progress.
