US LPG supplies to India to reach record 1 mln tons in June — Reuters

Business & Economy June 23, 15:25

Before the closure of the Strait of Hormuz, India met 90% of its LPG demand through imports from the Middle East

LONDON, June 23. /TASS/. Supplies of liquefied petroleum gas (LPG) from the United States to India will exceed a record 1 mln metric tons in June amid reduced energy imports from Middle Eastern countries, Reuters reported, citing Indian industry sources.

This month, New Delhi has increased LPG purchases from the United States despite higher costs in order to ensure uninterrupted supplies to households and offset disruptions in deliveries from Gulf countries caused by the conflict in the Middle East. India is also seeking alternative import routes to stabilize the market.

Before the outbreak of the US-Iran war in February and the closure of the Strait of Hormuz, India met 90% of its LPG demand through imports from the Middle East, which totaled about 2 mln metric tons per month. In April, LPG supplies to India from the region fell to 696,000 metric tons, while in May they rose to 1.15 mln metric tons.

Against the backdrop of the blockade of the Strait of Hormuz, India accelerated spot purchases of LPG from the United States, with the country's oil refining companies buying unprecedented volumes of the fuel.

According to preliminary data from analytics company Kpler, India plans to import about 1.07 mln metric tons of LPG from the United States in June, about 223,800 metric tons from the UAE, 116,200 metric tons from Iran and 108,600 metric tons from Kuwait, as well as certain volumes from Oman, Saudi Arabia, Algeria, Qatar, and Nigeria.

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