LNG Supply
India signs long-term pacts for procuring LNG, says Junior Minister Gopi
This story was originally published at 20:03 IST on 20 March 2025
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MUMBAI – India has signed various long-term agreements for procurement of liquefied natural gas to ensure uninterrupted supply and safeguard from price volatility, Minister of State for Petroleum and Natural Gas Suresh Gopi said in a written reply to the Lok Sabha Thursday. The government has also diversified the import of LNG by adding Australia, the US, and the UAE as sourcing destinations, he said.
The government has adopted a multi-pronged strategy to promote clean energy and reduce the reliance on fossil fuels which include refinery process improvements, promoting energy efficiency, and promotion of renewable and alternate fuels like ethanol, among others.
Indian oil related public sector undertakings have diversified their crude basket and are procuring crude from countries in West Asia, Africa, North America, and South America, Gopi said. India's strategic petroleum reserve capacity is at 5.33 million tonnes. The strategic crude oil storages are located in Vishakhapatnam, Mangaluru, and Padur which have a capacity of 1.33 million tonnes, 1.5 million tonnes, and 2.5 million tonnes, respectively, Gopi said.
To further augment the strategic petroleum reserve capacity, the government has also approved the establishment of two additional commercial-cum-strategic petroleum reserve facilities in 2021 at Chandikhol, Odisha and Padur, Karnataka, he added. End
Reported by Ashutosh Pati
Edited by Akul Nishant Akhoury
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