Major energy infrastructure is in the crosshairs of the conflict, raising risks of the biggest shock since Russia’s invasion of Ukraine. Qatar’s largest LNG plant remains shut, fuelling supply fears.
The 2 main risks facing the Indian economy in the short term are energy prices & availability and high fertiliser prices, the Finance Minister said at The Brookings Institution in the US Tuesday.
India’s domestic gas production is already tiny & it has shrunk by 40% over past nine years. Keeping that base narrow with unsustainable pricing wasn’t a financially prudent move.
The global benchmark’s prompt timespread was 42 cents in backwardation compared with as high as $4.64 in early March just after the Russian invasion of Ukraine.
In a televised speech Monday, Russia’s Deputy PM Alexander Novak said Moscow has the right to take actions that 'mirror' the penalties imposed on the country's economy.
For New Delhi, perhaps an interesting dimension of Mohammad Bagher Ghalibaf’s current role is his reported involvement in backchannel activities with the US via Pakistan.
The countries signed a memorandum for co-development of UNICORN masts in November 2024. India has been second Asian nation to have such an agreement with Tokyo, after Philippines.
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