India purchased some of the nation’s most expensive liquefied natural gas shipments ever after vital Russian deliveries were canceled. GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year. The New Delhi-based company is struggling to replace supply from the former trading arm of Gazprom PJSC, which was nationalized by Germany earlier this year and is paying contractual fines rather than delivering fuel. The global surge in natural gas prices after Russia’s invasion of Ukraine has hit price-sensitive emerging countries hard, forcing them to pay the high spot market rates or face blackouts and industrial shutdowns. India’s retail inflation surged in August due in part to higher fuel costs. GAIL didn’t immediately respond to an email seeking comment. GAIL last week bought three LNG shipments for October to November delivery above $40 per […]