India Diversifies LNG and Crude Oil Imports Amid Maritime Risks
India's Ministry of Petroleum and Natural Gas has expanded its import base for liquefied natural gas (LNG) and crude oil, diversifying suppliers to reduce exposure to geopolitical tensions and maritime transit disruptions.
The number of LNG sources has increased from six countries to 15, while crude oil suppliers have risen from 27 countries to 41, according to a written reply by Minister of State for Petroleum and Natural Gas Suresh Gopi to a parliamentary question.
This diversification is aimed at reducing dependence on specific countries or regions and enhancing India's ability to manage supply disruptions and market volatility.
The government also outlined efforts to strengthen its strategic petroleum reserves, with Indian Strategic Petroleum Reserve Limited establishing three facilities in Andhra Pradesh and Karnataka with a combined capacity of 5.33 million metric tonnes of crude oil.