India Strikes Historic LPG Deal with US, Fortifying Energy Security

Union Minister Hardeep Singh Puri announced a landmark deal as Indian PSU oil companies secure a one-year contract to import 2.2 MTPA of LPG from the US. The agreement is a strategic move to diversify India's LPG sourcing, amid growing market demands and government initiatives to stabilize domestic prices.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri shared nostalgic memories of his diplomatic stint in Tokyo, where he lived with his wife and newborn daughter nearly five decades ago. Puri's reflection gives a personal touch to his public persona.

In a significant development for India's energy sector, Puri announced that Indian public sector oil companies have finalized a one-year agreement to import liquefied petroleum gas (LPG) from the United States. Describing the contract as a 'historic first' for India's LPG market, he emphasized its importance in diversifying the country's energy sources.

The deal, involving the import of approximately 2.2 million tonnes per annum, marks a strategic effort to secure stable and affordable LPG supplies amid global price fluctuations. This milestone underscores the government's commitment to energy security and economic safeguards for Indian households.

(With inputs from agencies.)