India not running short of oil, gas amid Middle East crisis: Report
Canada and Australia have proposed to export gas to India and the country is also looking for additional sources
The Indian government has reassured her people that the country has sufficient oil and gas stock and is in contact with other suppliers worldwide amid the closure of Strait of Hormuz and the intensifying crisis in the Middle East, which have raised concerns about shortages of natural gas and oil.
According to the ANI report, India is in a very comfortable position with regard to her energy security. The current position of stock is comfortable and the stock is being replenished every day,
The report said that there is no shortage of LPG or LNG. Also, there is no shortage of crude oil in the world.
Canada and Australia have proposed to export gas to India and the country is also looking for additional sources. Recently, India inked a new agreement with the US and UAE, the report stated, adding that India imports 195 MMSCMD of gas, out of that Qatar supplies only 60 MMSCMD.
The report further stated that India is looking for other markets to purchase gas, and the country is negotiating the purchase of crude and LPG from major oil producers and traders.
India is in discussions with the Organisation of the Petroleum Exporting Countries (OPEC) and International Energy Agency (IEA). Moreover, the country is reviewing the energy situation twice a day, the report added.
