Now Reading: India diversifies LNG and crude oil sourcing to 15 and 41 nations
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India diversifies LNG and crude oil sourcing to 15 and 41 nations
India has expanded its liquefied natural gas (LNG) supplier base to 15 countries, up from six, and crude oil sources to 41 nations from 27 earlier, the government told the Rajya Sabha.…
The Story in Brief
India has expanded its liquefied natural gas (LNG) supplier base to 15 countries, up from six, and crude oil sources to 41 nations from 27 earlier, the government told the Rajya Sabha. Minister of state for petroleum and natural gas Suresh Gopi said the wider network reduces dependence on any single country, region or transit route, helping India manage supply disruptions and market volatility.
Alongside import diversification, India is building more strategic crude reserves. Indian Strategic Petroleum Reserve Ltd operates three facilities with 5.33 million tonnes capacity. Two additional commercial-cum-strategic reserves of 6.5 million tonnes in Odisha and Karnataka, approved in July 2021, are not yet commissioned. ONGC is developing a separate 1.75-million-tonne reserve in Karnataka.
The Indian Opinion
The government's claim of reduced dependence sounds reassuring, but the proof lies in execution. Expanding the supplier list is one thing; ensuring these new sources are reliable in a crisis is another. The two strategic reserves approved in 2021 remain unfinished with no fresh timeline. Until those tanks are filled and the new supply routes are tested during a real geopolitical shock, this is a plan, not a shield. A question for the next Rajya Sabha session: what is the commissioning date for the Chandikhol and Padur reserves?
Source: timesofindia.indiatimes.com
This story was synthesised by AI from the source linked above.
