India Expands LNG Sourcing Amid Geopolitical Tensions
The Indian government has expanded its liquefied natural gas (LNG) sourcing to 15 countries, up from six previously. This move is aimed at reducing supply risks arising from geopolitical tensions and maritime transit challenges.
This diversification of LNG imports also includes a broader crude oil sourcing network that now spans 41 countries, an increase from the previous 27. The expansion in crude oil imports was announced earlier due to disruptions to energy shipments through West Asia.
Minister of State for Petroleum and Natural Gas Suresh Gopi stated that this diversification has strengthened India's energy security by reducing dependence on any particular country, region or transit route. It also enhances the country's ability to manage supply disruptions and market volatility.