US now accounts for 67% of India's LPG imports: Minister Puri
Washington's share in India's liquefied petroleum gas (LPG) imports has risen to about 67 per cent, according to Petroleum and Natural Gas Minister Hardeep Singh Puri. Speaking at the CII International Energy Conference, Mr. Puri highlighted that this marks a significant shift from an earlier government decision to source roughly 10 per cent of the country's LPG requirements from the United States as part of a broader diversification strategy.
“Some of us wondered would we need the 10 per cent (from U.S.) when we have suppliers nearby [in the Gulf]. Today, I am happy to inform that U.S. accounts for about 67% of our LPG imports,” he said.
Before the conflict broke out in West Asia, India imported nearly 60 per cent of its requirement of the bottled hydrocarbon gas, with approximately 90 per cent of these imports coming via the Strait of Hormuz. The shift to U.S. supplies is seen as a response to geopolitical uncertainties and a move to secure energy supplies from multiple sources.
Mr. Puri also elaborated on measures taken to mitigate the impact of reduced imports during the peak of the crisis. He said that India's oil marketing companies (OMCs) ramped up their cumulative daily production of LPG from 34,000 metric tonnes to 55,000 metric tonnes. This increase helped the country offset the shortfall and maintain adequate domestic supply.
Speaking to reporters outside the conference, Mr. Puri refuted news reports that the government was considering imposing an additional charge on LPG and natural gas to fund a strategic fuel reserve. “I am not aware of any such proposal,” he stated, dismissing the speculation.
The minister's remarks come at a time when global energy markets are undergoing significant changes due to shifting trade patterns and regional conflicts. The growing reliance on U.S. energy supplies reflects India's strategy to diversify its import sources and reduce dependence on any single region or route.
The CII International Energy Conference serves as a platform for policymakers and industry leaders to discuss challenges and opportunities in the energy sector. Mr. Puri's address underscored the government's focus on energy security and resilience in the face of global disruptions.
