India inks gas deal with US as tensions over tariffs intensifies
India’s Minister for Petroleum and Natural Gas, Hardeep Singh Puri, described it as the country’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 a social media platform. "In our endeavour to provide secure affordable supplies of LPG to the people of India, we have been diversifying our LPG sourcing."
Puri called the agreement a “significant development” and noted that India’s Public Sector Undertaking (PSU) oil companies have "successfully concluded" a year-long negotiation for the imports.
Under the deal, India will import 2.2 million tons of LPG annually, accounting for nearly 10% of its total imports, he added. Indian oil companies have been in discussions with leading US producers over the past several months.
The agreement comes amid tensions between the two nations over 50% tariffs imposed on Indian goods by the Trump administration, partly linked to India’s continued purchases of Russian oil during the ongoing war in Ukraine.
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