Now Reading: US share of India’s LPG imports jumps to 67%: Puri
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US share of India’s LPG imports jumps to 67%: Puri
The United States now supplies 67% of India's liquefied petroleum gas imports, up from an initial target of roughly 10%, Petroleum Minister Hardeep Singh Puri said at the CII International Energy Conference.…
The Story in Brief
The United States now supplies 67% of India's liquefied petroleum gas imports, up from an initial target of roughly 10%, Petroleum Minister Hardeep Singh Puri said at the CII International Energy Conference. The shift follows a government push to diversify sources away from the Gulf, where 90% of India's LPG once passed through the Strait of Hormuz.
Puri also denied reports that the government plans a levy on LPG or natural gas to fund a strategic fuel reserve, calling them baseless. He said oil marketing companies raised daily LPG production from 34,000 to 55,000 metric tonnes during the peak West Asia crisis to offset lower imports. India now holds about 74 days of strategic reserves.
The Indian Opinion
Sceptics who questioned the wisdom of buying LPG from faraway America when the Gulf was just across the sea have been answered by events. The Strait of Hormuz chokepoint is a real risk, and Puri’s numbers prove that hedging pays off. Yet the claim that domestic production was ramped up by 60% in a crisis demands harder proof: how much of that was sustainable, and at what cost to other refinery outputs? Independent data on output and costs will separate muscle from marketing.
Sources (3): ndtvprofit.com, thehindu.com, hindustantimes.com
This story was synthesised by AI from the 3 sources linked above.
