India Diversifies Energy Supplies to Mitigate Global Risks

India has diversified its energy sources to ensure a stable future supply of liquefied natural gas (LNG) and crude oil. According to recent data, the country is now sourcing LNG from 15 countries, up from just six previously.

This expansion in suppliers is part of India's strategy to avoid over-reliance on any one nation for its energy needs. The idea behind this move is to mitigate potential disruptions caused by global events that can impact energy supplies.

In addition to the increased number of LNG suppliers, India has also set up three new storage sites as part of its Strategic Petroleum Reserve (SPR). These facilities are located in Andhra Pradesh and Karnataka, with two more planned for Odisha and Karnataka. This move aims to ensure that India can continue to meet its energy demands even if global supplies are disrupted.

Commenting on this strategy, Minister of State for Petroleum and Natural Gas Suresh Gopi stated that it helps India avoid 'energy hiccups' in case of global disruptions.