India Secures Energy Supply Amid West Asia Crisis through Diversified Procurement

Despite tensions in West Asia impacting global energy routes, India ensures a stable crude supply through diversified imports, safeguarding consumer interests against cost hikes. The government prioritizes gas supplies for essential sectors, enhances domestic LPG production, and implements measures for equitable distribution amidst potential shortages.

India remains vigilant amid the West Asia crisis, ensuring its crude supply chain remains secure through diversified procurement strategies, according to Sujata Sharma, Joint Secretary of the Ministry of Petroleum and Natural Gas. She revealed India's daily consumption of 55 lakh barrels is secure, with supply volumes surpassing those typically reliant on the Strait of Hormuz.

Tensions in West Asia have affected LPG supplies, leading the government to absorb significant cost increases to shield consumers. Sharma assured that current LPG supplies are channelled towards the domestic sector, prioritizing critical sectors like hospitals and educational institutions for non-domestic use, as per the government's fair distribution guidelines in consultation with state authorities.

Additionally, Sharma highlighted the proactive efforts in boosting LNG imports, with two new cargos en route, sourced from alternative avenues. India's extensive crude imports span around 40 countries, ensuring steady supplies as domestic refineries operate at peak capacity. Prioritization efforts are in place for crucial sectors, such as tea production and fertilizer manufacturing, with a notable increase in domestic LPG production by 25% aimed at uninterrupted household use.

(With inputs from agencies.)