S&P Global: India maintains energy security despite West Asia disruption

India is maintaining energy security despite disruption to oil and gas flows linked to the West Asia crisis, supported by diversified supply chains, strong domestic coal capacity and expanding digital infrastructure, according to an S&P Global report. The report said war risks and higher freight rates have lifted imported coal prices and shipping costs by 30% to 40%, contributing to higher marginal power prices in wholesale electricity markets. It also highlighted India’s lower reliance on LNG imports as a strength, while flagging structural vulnerabilities in LPG sourcing. India’s inventories provide coverage for 76–80 days of crude and refined products, the report said.