Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Thursday, assured the nation that there is no shortage of fuel and that India’s crude supply position is secure despite the closure of the Strait of Hormuz shipping route due to the conflict in the Middle East.
Addressing the Parliament, Puri said that the energy crisis is unprecedented as the world has not faced a moment like this in modern energy history. However, he asserted, India’s crude supply position is secure, and the volume secured exceeds what the Hormuz would have delivered.
“Before the crisis, approximately 45% of India’s crude imports transited through the Strait of Hormuz route. Thanks to the Prime Minister’s outstanding diplomatic outreach and goodwill, India has secured crude volumes that exceed what the disrupted Strait of Hormuz could have delivered in the same period,” he said.
The minister informed the House that the refineries are operating at high-capacity utilization and reiterated that there is no shortage of petrol, diesel, kerosene, ATF, or fuel oil. “The availability of petrol, diesel, aviation, turbine fuel, kerosene and fuel oil is fully assured…,” he added.
Puri said that following the crisis, India managed to increase non-Hormuz sourcing to approximately 70 per cent of all crude imports, up from 55 per cent before the conflict began. He said that India now sources its energy products from 40 countries, as against 27 in 2006 and 2007.
“This structural diversification built through sustained policy over successive years has given us options that other nations find themselves without…Retail outlets across the country are stocked, and supply chains for these products are functioning normally…,” he stated.
“Sufficient gas production and supply to sustain even if conflict drags on”
He also addressed the issue of LPG shortage and told the House that Liquefied Natural Gas (LNG) cargoes are arriving on an almost daily basis through alternative routes. He said that India has sufficient gas production and supply arrangements to sustain this position even in the event of a prolonged conflict.
“Power generation for every household and for industry is fully protected…Procurement has now been actively diversified with cargoes being secured from the United States, Norway, Canada, Algeria, and Russia,” he added.
In an apparent response to Leader of Opposition Rahul Gandhi’s warning that the fuel crisis may get even bigger and that the government needs to prepare for it, the energy minister said that the country is navigating the most severe global energy disruption, and this is not the moment for rumour mongering.
“This is not the moment for rumour mongering or fake narratives. India is navigating the most severe global energy disruption in recorded history. Fruit supply is flowing, gas is prioritised for homes and farms, LPG production has been stepped up by 28 per cent…India must stand united behind the energy warriors, behind the institution managing the crisis, and behind the national interests,” he added.