India signs gas deal with US amid tensions over tariffs

NEW DELHI

India said on Monday that it has signed a "historic" deal to import Liquefied Petroleum Gas (LPG) from the US, according to an official announcement.

India's Minister for Petroleum and Natural Gas Hardeep Singh Puri called it India's first "structured contract of US LPG for the Indian market."

"One of the largest and the world’s fastest growing LPG market opens up to the United States," Puri said on US social media company X. "In our endeavour to provide secure affordable supplies of LPG to the people of India, we have been diversifying our LPG sourcing."

Terming it a "significant development," Puri said India's Public Sector Undertaking (PSU) oil companies have "successfully concluded" a year-long deal for imports.

Under the deal, India will import 2.2 million tons of LPG per annum, which makes close to 10% of its annual imports, Puri said.

He said Indian oil companies were engaged in discussions with major US producers over the last few months.

The decision comes amid tensions between the two countries over 50% tariffs imposed on Indian goods by the Trump administration, partly for purchasing Russian oil as the war in Ukraine continues.

NEW DELHI

India said on Monday that it has signed a "historic" deal to import Liquefied Petroleum Gas (LPG) from the US, according to an official announcement.

India's Minister for Petroleum and Natural Gas Hardeep Singh Puri called it India's first "structured contract of US LPG for the Indian market."

Terming it a "significant development," Puri said India's Public Sector Undertaking (PSU) oil companies have "successfully concluded" a year-long deal for imports.

Under the deal, India will import 2.2 million tons of LPG per annum, which makes close to 10% of its annual imports, Puri said.

He said Indian oil companies were engaged in discussions with major US producers over the last few months.

The decision comes amid tensions between the two countries over 50% tariffs imposed on Indian goods by the Trump administration, partly for purchasing Russian oil as the war in Ukraine continues.