India Widens LNG Sourcing Network, Expands Crude Oil Supplier Base
India has expanded its liquefied natural gas (LNG) sourcing network to 15 countries, up from six earlier, in a bid to reduce supply risks and strengthen energy security. This diversification aims to minimize dependence on any single country or region, allowing the country to manage disruptions and market volatility more effectively.
The Ministry of Petroleum and Natural Gas stated that it regularly monitors energy supply risks and tracks global market conditions with public-sector oil and gas companies. The government is taking necessary measures to ensure uninterrupted availability of crude oil, LNG, and petroleum products.
India's broader supplier network also includes a wider range of countries from which it sources crude oil. Crude imports now come from 41 countries, compared to 27 earlier. Minister Suresh Gopi emphasized the importance of this diversification in reducing dependence on any particular country or region and enhancing India's ability to manage supply disruptions.
The government is also increasing its strategic petroleum storage capacity to respond to sudden disruptions in crude oil supplies. Three strategic petroleum reserve facilities have been established, with a combined storage capacity of 5.33 million metric tonnes (MMT). Two commercial-cum-strategic petroleum reserve facilities are planned at Chandikhol and Padur, but their construction progress and completion schedules remain unclear.