Indian oil cos sign deal to import LPG from US

In a major development for India’s energy sector, Indian public sector oil companies have signed their first ever structured deal to import 2.2 million tonnes of Liquefied Petroleum Gas (LPG) from the US Gulf Coast, union minister Hardeep Singh Puri said.

- Shashank Mattoo

Union minister Hardeep Singh Puri.

(PTI)

The one-year deal would account for roughly 10% of India’s total LPG imports, a significant rise from 0.6% of imports sourced from the US last year. The deal, signed for contract year 2026, follows months of negotiations between Indian and American energy companies, Puri said in a post on X.

During Prime Minister Modi's visit to the US in February this year, India committed to hiking its purchases of US energy as a way of balancing trade with Washington, which has a roughly $40 billion trade deficit with India.