India’s steel industry refused access to low-cost gas
An Essar steel facility at Hazira, Gujarat. Essar lost its case with the Indian Supreme Court. (Essar)
The Indian Supreme Court has upheld a lower court ruling that gave a major power producer access to cheap Qatari LNG at the expense of other gas buyers, including one of the country’s major steel producers.
Mumbai-based Essar Steel challenged a 2008 ruling by India’s high court, which allowed the government to lower the price of gas paid by the Ratnagiri Power plant by pooling expensive spot LNG, on which the plant was reliant, with cheaper Qatari gas.