Oman beats Qatar as India’s top LNG supplier as war disrupts Gulf gas flows

Mumbai: Oman emerged as India's top supplier of liquefied natural gas (LNG) in March, overtaking long-time leader Qatar, as the Iran war severely disrupted gas production and supply across the Gulf, forcing Indian buyers to swiftly diversify energy sourcing. India, the world's fourth-largest LNG buyer, procured 489,000 tonnes of LNG from Oman in March, accounting for nearly 30% of the country's total LNG imports of 1.63 million tonnes, showed data collated by rating agency ICRA.

In contrast, imports from Qatar fell to just 128,000 tonnes in March, giving the Gulf nation an 8% market share, a sharp decline from 41% during April 2025 to February 2026.

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The drastic shift in India's sourcing tracks Iranian missile attacks on Qatar's energy infrastructure and disruptions to shipping through the Strait of Hormuz, severely curtailing Qatari LNG exports.

Qatar, which supplies over 40% of India's LNG requirements, was forced to halt production at parts of its Ras Laffan LNG complex, forcing Indian gas companies to scramble for alternative supplies.

"Supply is not just from the US, but Oman, which is very close to India...there are new countries like Nigeria and Congo; we got cargoes from Congo, from Mauritania and Senegal," Vivek Mittal, president, marketing at Petronet LNG told analysts last month. "So, all these new supplies are adding up, and this is supporting us." Petronet LNG is India's largest LNG importer.

Qatar's Ras Laffan industrial city faced a barrage of missile attacks from Tehran mid-March. This led Qatar Energy to declare force majeure on gas exports.

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"We are given to understand that Qatar Energy will be able to begin operations in a few weeks, so we are hopeful that LNG supplies will resume," said an industry analyst. "Gas companies are also in talks with Qatar to make good the volumes they have lost in the past few months."

Besides Oman, the US and Nigeria supplied around 17% of India's LNG requirements in March, with shipments of 279,000 tonnes and 270,000 tonnes, respectively. The UAE contributed 192,000 tonnes, accounting for 12% of monthly imports.

"It will take a few more weeks for operations to normalise at Qatar Energy's facilities," said Prashant Vasisht, senior vice-president and co-group head, corporate ratings at ICRA. "So, for now, until the Strait of Hormuz opens up, India is depending a lot on Oman and the US to meet its demand for LNG."

Between April 2025 and this February, India imported 25.98 MT LNG, with Qatar contributing 10.74 MT, retaining a dominant 41% share. The US and the UAE each achieved 11% share of India's LNG imports during the period, while Nigeria, Angola, and Oman contributed 8%, 8% and 7%, respectively. Industry analysts said Oman has been particularly well-positioned to capture market share since its LNG export facilities are located outside the strait.