By Admin 
India Russia LNG Deal: The increasing tension in the Middle East and the closure of the Strait of Hormuz has caused huge turmoil in the global energy market. Since about 20% of the world’s oil passes through this route, the energy crisis is deepening in many countries. In such a situation, India has started working rapidly on alternative energy sources. While on one hand China and Pakistan will be surprised to know about this step of India, on the other hand India’s LNG reserves can be filled and the shortage can be eliminated.
In fact, according to reports, India has sought exemption from the US on purchases from Russia to ensure the supply of Liquefied Natural Gas (LNG). If this exemption is granted, then the problem of gas supply in the country can be reduced to a great extent.
Government in action amid energy crisis
According to sources, talks have started again regarding the purchase of LNG from Russia. The imports which were banned after the Ukraine conflict are now being considered to be restarted in view of the energy crisis. Earlier, External Affairs Ministry spokesperson Randhir Jaiswal had also indicated that India is in talks with many countries to ensure energy security. At the same time, LPG import, which is important for domestic cooking gas, will continue from Russia, because there is no restriction on it.
It is being told that if the talks progress in a positive direction, the agreement can be sealed within a week. However, with this step there will also be a risk of possible sanctions from Western countries.
Approval may be given on purchase soon
Amidst the ongoing tension in the Middle East, India has made its energy strategy more aggressive. According to reports, the government has asked domestic energy importers to be ready to purchase LNG from Russia. For this, talks have also been started with the US administration, so that necessary relaxation in restrictions can be obtained.
In fact, in view of increasing tensions and supply constraints in the Middle East, India is rapidly increasing its dependence on alternative sources. This is the reason why the purchase of crude oil from Russia has also been increased. According to Kepler’s estimates, India has purchased about 50 to 60 million barrels of Russian crude oil since the start of the Iran war.
The purpose of America’s giving exemption to India in buying Russian oil for 30 days is also said to be to keep the global market stable. On one hand, this provides energy security to India, and on the other hand, it helps in keeping international oil prices under control. That is, amidst the current global crisis, India is taking rapid steps towards ensuring supplies from different countries by adopting “Multi-Source Energy Strategy”, so that any kind of shortage or uncontrolled increase in prices in the domestic market can be avoided.
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