India US LPG Deal: The sourness seen in the trade relations between India and America after the American high tariff now seems to be gradually reducing. Amid expectations of a trade deal with the US, India has for the first time signed a major long-term agreement with the US for LPG imports. The government says that such an agreement will strengthen the country’s energy security and will also provide an opportunity to diversify sources of supply amid global uncertainties.
US-India’s big deal
Describing it as a historic deal, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said that the world’s fastest growing LPG market – India has formally opened its market to America.
He said that providing LPG at affordable prices to the people of the country and strengthening energy security is the priority of the government. In this direction, diversification of sources of supply is being brought about and this agreement is a big step in that direction.
Agreement for 2.2 million tonnes annually
Puri further said that in the next year i.e. 2026, government oil companies have signed this agreement to import about 2.2 million tonnes of LPG gas for one year. This is about 10 percent of the total LPG gas imported by India, which is an important step towards energy security of the country.
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