New Delhi, November 17 (IANS). India’s state oil companies have signed contracts to import 2.2 million tonnes per annum (MTPA) of LPG from the US. This information was given by Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday.
Taking to social media platform ‘X’, Puri said that the historic decision, one of the world’s largest and fastest growing LPG market is now opening up for America.
The ministry said, “With the aim of providing gas to the people of the country at affordable prices, we are diversifying our LPG supply.”
“State oil companies have signed a one-year contract to import 2.2 MTPA of LPG, which is 10 per cent of our total annual imports, from the US Gulf Coast. This is the first contract to import LPG from the US in the Indian market,” Puri said.
In this agreement, Mont Belvieu has been used as the benchmark for LPG purchases.
The Union Minister said that a team of our officials from Indian Oil, BPCL and HPCL had visited the US and had discussions with major US producers in the last few months and now this has been completed.
Under the leadership of Prime Minister Modi, public sector oil companies are providing cooking gas to all our mothers and sisters at the lowest global prices.
“Despite global prices rising by more than 60 per cent last year, Prime Minister Modi ensured that our Ujjwala consumers continued to get LPG cylinders for only Rs 500-550, while the actual price of the cylinder was more than Rs 1,100,” the minister said.
“The Government of India spent over Rs 40,000 crore last year to ensure that our mothers and sisters do not feel the burden of rising international LPG prices,” he said.
–IANS
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