By Admin 
- Learning from West Asia tensions, India will create 30-day LPG buffer.
- BPCL will increase LPG capacity by Rs 5000 crore, other OMCs too.
- India will ensure supply security by reducing Middle East dependence.
According to ET’s report, a senior industry official, on the condition of anonymity, said, the central government is thinking of creating LPG inventory of roughly 30 days, but nothing has been decided yet on the quantity of stock. This will be based on the total consumption of LPG, import and supply requirement after diversifying the sourcing. This step will be taken to strengthen energy security in the country and to protect domestic and commercial consumers from any major supply shock in future.
India learned a lesson
India imports a large part of its LPG requirement. Of these, about 90% comes from Gulf countries via Hormuz. During the war between Iran and America, when the supply from Hormuz was stopped, India’s imports also declined. Due to this, the government had to limit the supply of LPG in the commercial and industrial sectors. Learning from this crisis, India now wants to reduce its dependence on Middle East countries for LPG imports.
What is India’s current storage capacity?
According to the data of Petroleum Planning and Analysis Cell (PPAC), currently 214 LPG bottling plants are active in the country. These have an average stock of only 4-7 days (5 days on average). If import terminals and other methods of storage are also included, the average cover is only 18 days.
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