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NEW DELHI: India on Thursday reiterated that it’s in a comfortable position with regards to energy supply, amid the Middle East tensions.Country’s energy situation is being reviewed twice a day and remains in a comfortable position on energy security despite the escalating tensions in West Asia, government sources, cited by ANI, said.
Officials maintained that there is no global shortage of crude oil, LNG or LPG, and India continues to engage with multiple suppliers to ensure steady inflows. Only about 40 per cent of India’s crude imports pass through the Strait of Hormuz, reducing the country’s vulnerability to potential disruptions in the region. The remaining 60 per cent is sourced through alternative routes.India currently holds nearly eight weeks of total inventory cover for crude oil and petroleum products, including strategic reserves. This includes approximately 25 days of crude oil stocks and around 25 days of petrol and diesel inventory.ANI sources also said diversified sourcing and adequate reserves have positioned India to manage any short-term supply-side shocks, even as it continues to closely monitor developments in the region.Government sources further clarified that there are no plans to ration petrol or diesel, reiterating that sufficient stocks are available across the country to meet domestic demand. Officials maintained that fuel supplies remain stable and that there is no cause for public concern.Sources also noted that Qatar accounts for nearly 20 per cent of global LNG supplies. QatarEnergy has declared force majeure, a contractual provision that allows a supplier to suspend or reduce obligations due to extraordinary circumstances beyond its control.In this context, GAIL (Gas Authority of India Limited) is also expected to invoke force majeure in order to manage supply commitments and prioritise deliveries to critical sectors.Officials added that these measures are precautionary and aimed at ensuring uninterrupted supplies to essential sectors amid evolving regional uncertainties.
Offers from other countries
Australia and Canada have offered to supply gas to India as New Delhi explores alternative energy sources amid the escalating tensions in West Asia, further stated the government sources.India currently imports around 195 million metric standard cubic metres per day (mmscmd) of gas, of which approximately 60 mmscmd comes from Qatar. With supply risks under watch, the government is actively scouting additional markets to ensure continuity and diversification.Officials said India is also engaging with major oil producers and global traders for crude oil and LPG procurement. Discussions are underway with the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) to assess market stability and supply outlook. In parallel, talks with the US are focused on securing insurance coverage for Indian vessels operating in sensitive maritime corridors.As part of its broader diversification strategy, India recently signed new energy agreements with the UAE and the US to strengthen and rebalance its energy basket.Earlier reports also suggested that Russia also also offered help to send crude oil to India. “We have been open to supplying crude oil to India,” said Russian Ambassador Denis Alipov.Additionally, according to a Bloomberg report, ship-tracking data shows that two Russian crude cargoes originally destined for East Asia have changed course and are now headed to India.Vessel monitoring data from Kpler and Vortexa indicate that the two tankers are carrying a combined 1.4 million barrels of Urals crude and are expected to discharge at Indian ports later this week. Earlier voyage signals had pointed to East Asian destinations before the ships altered their route.Read more: Russian crude to rescue! Ships carrying Russia’s oil head to India amid Middle East supply shock – Report
Source: Times of India
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