By PTI | New Delhi
Russia is ready to fully meet India’s energy requirements in the event of prolonged disruptions to oil and gas supplies triggered by the escalating tensions in West Asia, an official from the Embassy of the Russian Federation said on Monday.
The assurance from Moscow gains added urgency as QatarEnergy suspended liquefied natural gas (LNG) production and related products on March 2 after an Iranian drone struck critical infrastructure at Ras Laffan Industrial City and Mesaieed Industrial City.
“We are ready to fulfill demands of India’s energy needs in case of continued disruption of energy supplies,” the official told PTI.
Energy supply concerns heightened after Iran blocked the Strait of Hormuz, a key shipping route for international trade.
India depends on the region for a large share of its crude oil and LNG imports, although it has diversified its sourcing in recent years with substantially higher volumes from Russia.
Ministry of Petroleum and Natural Gas on Monday assured that the country is well stocked with crude oil and inventories of key petroleum products, including petrol, diesel and automatic transmission fluid (ATF) to deal with short-term disruptions arising from the tensions in West Asia.
“India has ensured both availability and affordability of energy for its population by diversifying its sources. Indian energy companies now have access to energy supplies that are not routed through the Strait of Hormuz,” the ministry said.
