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India inks landmark LPG import deal with US
(MENAFN) India announced on Monday that it has signed a "historic" agreement to import Liquefied Petroleum Gas (LPG) from the US.
India's Minister for Petroleum and Natural Gas Hardeep Singh Puri described it as India’s first "structured contract of US LPG for the Indian market."
"One of the largest and the world’s fastest growing LPG market opens up to the United States," Puri said on US social media company X. "In our endeavour to provide secure affordable supplies of LPG to the people of India, we have been diversifying our LPG sourcing."
Calling the agreement a "significant development," Puri noted that India’s Public Sector Undertaking (PSU) oil companies have "successfully concluded" a year-long deal for imports.
Under the deal, India will import 2.2 million tons of LPG per year, representing nearly 10% of its annual imports, he said.
Puri added that Indian oil companies have been in discussions with major US producers over the past few months.
The agreement comes amid ongoing tensions between the two countries over 50% tariffs imposed on Indian goods by the Trump administration, partly due to India’s purchases of Russian oil amid the war in Ukraine.
India's Minister for Petroleum and Natural Gas Hardeep Singh Puri described it as India’s first "structured contract of US LPG for the Indian market."
"One of the largest and the world’s fastest growing LPG market opens up to the United States," Puri said on US social media company X. "In our endeavour to provide secure affordable supplies of LPG to the people of India, we have been diversifying our LPG sourcing."
Calling the agreement a "significant development," Puri noted that India’s Public Sector Undertaking (PSU) oil companies have "successfully concluded" a year-long deal for imports.
Under the deal, India will import 2.2 million tons of LPG per year, representing nearly 10% of its annual imports, he said.
Puri added that Indian oil companies have been in discussions with major US producers over the past few months.
The agreement comes amid ongoing tensions between the two countries over 50% tariffs imposed on Indian goods by the Trump administration, partly due to India’s purchases of Russian oil amid the war in Ukraine.
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