International Relations GS 2 In the news 11 times

India's Energy Diversification Strategy

Energy diversification refers to India's long-standing policy of reducing overdependence on any single country or route for hydrocarbon imports. India now sources crude from around 40 countries, including Russia, the United States, West Africa, and Latin America, alongside the traditional Gulf suppliers.

Key details

India is the world's third-largest consumer of crude oil and the fourth-largest LNG importer globally.
Prior to the current crisis, India increased Russian crude imports significantly after 2022 sanctions, making Russia its top single-country crude supplier.
India's Strategic Petroleum Reserves (SPR) have a storage capacity of 5.33 million metric tonnes (MMT) at three facilities: Vishakhapatnam, Mangaluru, and Padur.
The Petroleum and Natural Gas Ministry has been tasked with securing alternative LPG and LNG supply contracts from the US, Australia, and West Africa.

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