India’s LNG sourcing shifts as Nigeria fills Qatar gap
after close1 source ↓machine-written, see hownot a recommendation
- GAIL close
- ₹167.91
- On the day
- +1.66%
- Futures OI, long build-up
- +1.1%
- Put-call ratio
- 0.85
- Max pain
- ₹170.00
India’s liquefied natural gas sourcing changed sharply after the Iran war, with supplies from Nigeria, the US and Oman helping offset lower deliveries from Qatar and the UAE. India’s LNG imports rose 9% year-on-year between March and September, while the three newer or expanded suppliers accounted for about 68% of imports, compared with 25% a year earlier. Qatar’s share fell to 3% from 45%, according to LEADERSHIP Newspapers.
The shift matters for India’s energy supply chain ⚡ because additional cargoes from Nigeria, the US and Oman have helped close the gap created by reduced deliveries from previous leading suppliers. Domestic gas consumption remained steady during the period, supported by the expanding city gas sector. The reported sourcing change therefore affects both imported fuel availability and the cost and reliability of gas for downstream users.
OI Charts data for GAIL, as of 30 Oct 2026, showed the stock at ₹167.91, up 1.7% on the day, with volume of 14,200,930. The stock was down 2.6% over 20 sessions and remained within a 52-week range of ₹134.36 to ₹186.87. Its futures showed long build-up, with open interest rising 1.1% to 78,156,800 and the contract trading at a 0.66% premium to the underlying.
In the options market, the put-call ratio stood at 0.85 and max pain was ₹170 for the 23 Nov 2026 expiry, which had 24 days remaining on the data date. The largest call open interest was at ₹170, while the largest put open interest was at ₹190. These levels mark the main options positioning zones around the current price and provide the immediate market structure to monitor
The next focus is whether Nigeria, the US and Oman sustain their higher contribution through subsequent import data, and whether Qatar and the UAE regain share. For the stock, traders will also watch the ₹170 max-pain level, the ₹170 call open-interest concentration and changes in futures positioning as the November expiry approaches. The reported increase in imports provides a current supply cushion, but the longer-term impact depends on cargo availability, sourcing costs and domestic gas demand.
Source: LEADERSHIP Newspapers, 31 Oct 2026
Not investment advice. For informational purposes only.