Tension increased on Hormuz! Still ‘no-tension’ on LPG supply, gas coming to more than a dozen countries

New Delhi: The government is continuously taking major steps to maintain LPG supply in India amid tension in the Strait of Hormuz. Tension continues between America and Iran. Even though there is a ceasefire going on in the Middle East, there is a crisis over the supply of oil and gas. In such a situation, government plans are working to deal with the LPG crisis in India.

Buying from spot market intensifies

According to media reports, by increasing domestic LPG production, the government has reduced its dependence only on Gulf countries. Now gas is being imported from other countries also. Government oil companies have also started purchasing from the spot market, so that there is no shortage of gas in the country under any circumstances.

Gas supply is still disrupted due to tension in West Asia. According to the report of Times of India, LPG cargo is being continuously purchased from the spot market to meet the demand of LPG cylinders at homes and commercial places.

Quoting sources, it has been said that Indian government oil marketing companies have also tied up with America to maintain smooth LPG supply in the country. LPG cargo purchased from the spot market is expected to reach India in June and July.

Will buy LPG from wherever it is available – India 

Let us tell you that Sujata Sharma, Joint Secretary of the Petroleum and Natural Gas Ministry, said that before the war between America, Israel and Iran started, India used to import about 60% of its LPG requirement. But amid the crisis, the government ordered to increase domestic production. This resulted in a huge increase in production and reduced India’s import dependency.

In this sequence, he said that the priority of the government is to fulfill the domestic supply and for this, cargo will be procured from wherever possible. According to the ministry’s data, India requires about 80,000 tonnes of LPG daily.

Domestic production increased by 20%, imports from 15 countries 

It is noteworthy that domestic LPG production in the country has increased by about 20 percent to 46,000 tonnes per day. The remaining required gas is now being imported from many countries. Earlier, LPG was imported from 10 countries, now the number of such countries has increased to 15. Before the war, 90% of India’s LPG requirement came from Gulf countries.

These included UAE, Qatar, Saudi Arabia, Kuwait, Bahrain and Oman. Amid the LPG crisis, imports have been diversified under Plan B of the Modi government. Now most of the purchasing is happening from countries like America, Norway, Canada, Algeria and Russia. The government said that a cargo of around 8 lakh tonnes of LPG has already been secured and is on its way.