Qatar is India’s dominant LNG supplier, though volumes are down. Renegotiation of the existing 7.9mn t/y contract between RasGas and India’s Petronet, and smaller recent deals, may well trigger a rebound in volumes from this year. But the Qataris, and other suppliers, are being squeezed on price.

Qatar remains India’s dominant supplier. But its share has been gradually falling. For April to December 2015, the first nine months of the Indian 2015-16 financial year, Qatar...