India Expands LNG Suppliers, Boosts Crude Oil Imports Amid Global Tensions

India has expanded its liquefied natural gas (LNG) suppliers to 15 and increased crude oil sourcing to 41 countries, aiming to improve energy security by reducing reliance on specific trade routes amid rising geopolitical tensions.

The Ministry of Petroleum and Natural Gas informed Parliament that the country now sources LNG from 15 nations, up from six previously. Similarly, the network for crude oil imports has grown to 41 countries, compared to 27 in the past.

Between May and July 2026, the United States emerged as the largest supplier of LNG to India, leading to a sharp decline in imports from traditional sources like Qatar. This shift is largely a response to the need for securing energy supplies that do not depend on the Strait of Hormuz, a critical maritime route frequently affected by regional conflicts in West Asia.

The Indian Oil Marketing Companies (OMCs) are managing supply-side risks with this broader supplier base. These state-run companies often handle the financial burden of fluctuating global energy prices to stabilize domestic fuel costs for consumers. When global prices spike, OMCs often absorb a portion of the cost, which can put pressure on their profit margins.