As the conflict in the Middle East triggered a severe global energy crisis with key supply route blocked, Qatar has assured India it will start supllying crude oil the very minute the route is opened, government sources said on Saturday.
“We are assured by Qatar that they will start supplying to India on the very first minute once the route is open,” the sources stated
The assurance from Qatar came days after Government said that it has comfortable stock of crude oil and LNG. Indian government sources earlier stated that India has recieved offer of LNG supply from a large number of countries.
The US and Israeli attacks on Iran and the latter’s retaliation paralysed the energy supply route from Qatar as the Strait of Hormuz, a key shipping corridor, has been severely impacted.
Iran had warned that it will target any ships that passes through the Strait of Hormuz.
However, with Iranian President apologising to Gulf nations for attacks on their territory, the sources said that the “cargo movement near the Strait of Hormuz may start soon.”
“This comes after Iran pledges not to target neighbours unless attacked from their territory,” they added.
India imports 195 MMSCMD of gas, out of which Qatar supplies only 60 MMSCMD.
However, QatarEnergy stopped LNG production earlier this week after an Iranian drone strike, prompting India to look for alternative markets to buy gas.
After the conflict in the Middle East, Petroleum and Natural Gas Minister Hardeep Singh Puri briefed the media about the country’s position on energy security, saying that the country is well stocked with crude oil and has adequate inventories of key petroleum products, including petrol, diesel, and ATF, to deal with short-term disruptions arising from tensions in the Middle East.
“The country is well stocked with crude oil and inventories of key petroleum products, including petrol, diesel, and ATF, to deal with short-term disruptions arising from the Middle East,” he said.