New Delhi [India], November 17 (ANI): Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday recalled his time on the Indian embassy in Tokyo, Japan, the place he lived alongside together with his spouse and daughter.
‘A home filled with reminiscences. This was the home in Moto-Azabu district of Tokyo wherein Lakshmi and I lived as younger diplomats practically 5 many years in the past in 1976. Our elder daughter was simply 40 days previous after we moved to Tokyo and now we have such stunning reminiscences from our time right here,’ Puri posted on X.
In a serious step in direction of strengthening India’s power safety, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Monday introduced that Indian public sector oil firms have, for the primary time, signed a one-year deal to import liquefied petroleum fuel (LPG) from the United States.
The minister shared the event via a social media publish on Monday, calling it a ‘historic first’ for the nation’s LPG market.
He acknowledged, ‘A historic first! One of the most important and the world’s fastest-growing LPG markets opens as much as the United States. In our endeavour to supply safe, reasonably priced provides of LPG to the individuals of India, now we have been diversifying our LPG sourcing. In a major improvement, Indian PSU oil firms have efficiently concluded a 1-year deal for imports of round 2.2 MTPA LPG.’
Highlighting India’s place as one of many largest and fastest-growing LPG markets on this planet, Puri mentioned that the brand new settlement marks a major milestone within the nation’s efforts to diversify its LPG sourcing.
According to the minister, the Indian PSU firms have concluded a contract to import round 2.2 million tonnes every year (MTPA) of LPG for the contract yr 2026.
This quantity represents near 10 per cent of India’s annual LPG imports and might be sourced from the US Gulf Coast. He famous that this would be the first structured long-term contract involving US LPG for the Indian market.
Puri defined that the acquisition has been benchmarked to Mount Belvieu, a key pricing level for international LPG commerce.
He added that groups from Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) had visited the United States in current months to carry discussions with main American producers, which have now been efficiently concluded.
The minister additionally highlighted the federal government’s dedication to making sure reasonably priced LPG for Indian households, notably for girls benefitting from the Pradhan Mantri Ujjwala Yojana.
He identified that whilst international LPG costs surged by greater than 60 per cent final yr, Prime Minister Narendra Modi ensured that Ujjwala shoppers continued to pay solely Rs 500-550 per cylinder, in opposition to an precise price of over Rs 1,100.
To protect shoppers from worldwide worth shocks, the Government of India absorbed a burden of over Rs 40,000 crore through the yr.
He additionally shared that the brand new US import deal reinforces the federal government’s ongoing efforts to safe dependable and reasonably priced power provides for the nation’s individuals. (ANI)