Petroleum: India ready to buy energy from all sources, gas prices will fall in 2026, said Union Minister
New Delhi| India is ready to import energy from all sources at minimum rates. The Union Minister also said that domestic oil marketing companies are looking for more gas, which is expected to cost less in 2026. Union Petroleum Minister Hardeep Singh Puri said.
Ahead of the Indian Energy Week 2025, Puri allayed fears of the impact on energy supplies from Russia to India following US sanctions.
Puri said, “Today we have such a situation that we are purchasing petroleum products from 39 suppliers instead of 27 suppliers”. Argentina has also been included in this. We are ready to import from all sources.”
“We issued tenders at the time of import”, he said. Those tenders are open to any supplier. We buy from the cheapest source.” He also said that domestic (oil marketing companies) are looking for more gas.
Puri said that the availability of LPG (liquefied petroleum gas) in the country has more or less ended and the idea is to deliver natural gas to every household through pipes, as it is 30 per cent cheaper. A top official said that Indian Oil, Bharat Petroleum and GAIL are considering purchasing LNG (liquid natural gas) and crude oil from America.
