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India widens energy import sources, taps 15 nations for LNG
India has sharply expanded its energy import network, sourcing LNG from 15 countries and crude oil from 41, up from six and 27 previously. The government told Rajya Sabha on Monday that…
The Story in Brief
India has sharply expanded its energy import network, sourcing LNG from 15 countries and crude oil from 41, up from six and 27 previously. The government told Rajya Sabha on Monday that the diversification aims to reduce dependence on any single nation, region or transit route, especially amid geopolitical tensions and disruptions on key maritime routes like the Strait of Hormuz, Times Now reported. The ministry is tracking threats in coordination with public-sector companies.
However, state-run oil firms have incurred a cumulative under-recovery of over Rs 59,000 crore on domestic LPG sales as of July 31, despite the government disbursing Rs 52,000 crore in compensation till FY27, the minister said. India's strategic petroleum reserves currently hold 5.33 million tonnes at three facilities in Andhra Pradesh and Karnataka. Two more commercial-cum-strategic reserves of 6.5 million tonnes at Chandikhol and Padur have been approved but are not yet operational.
The Indian Opinion
The government's push to diversify energy imports is prudent, but the real test lies in execution. With LPG under-recovery costs ballooning to over Rs 59,000 crore despite Rs 52,000 crore in compensation, the financial burden on state-run oil firms is a clear red flag. The planned strategic crude reserves of 6.5 million tonnes remain stuck in approval limbo, leaving India vulnerable. Is the policy ambition matching the on-ground reality of supply security?
Sources (2): timesofindia.indiatimes.com, timesnownews.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
