According to three industry sources and LSG trade flows, India has purchased its first shipment of Iranian Liquefied Petroleum Gas (LPG) in years, reported Reuters. The United States temporarily lifted sanctions on Tehran’s oil and refined fuels, which led to the fresh decision. In 2019, India stopped energy procurement from the Islamic Republic due to Western sanctions. The details indicated that the tanker was originally headed for China.
The sanctioned ship Aurora carrying Iranian LPG is reportedly anticipated to arrive in Mangalore’s west coast port soon. The three fuel retailers, Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp will split the Iranian LPG cargo. According to the sources, India is considering purchasing more Iranian LPG cargoes.
The cargo was bought from a dealer, and payment will be made in rupees. However, an official stated that he was unaware of the development. “We have not heard of any loaded cargoes from Iran,” stated Rajesh Kumar Sinha while talking to the media on 25th March (Wednesday). He is special secretary in the federal shipping ministry.
Last year, 33.15 million metric tonnes of cooking gas were consumed in India and around 60% of this demand was derived from imports. The Middle East accounted for around 90% of such supplies. Four LPG tankers, Shivalik, Nanda Devi, Pine Gas and Jag Vasant, have been moved thus far as India steadily removes its stranded cargoes from the volatile Strait of Hormuz. Additionally, India is stocking its empty ships that are stuck in the Persian Gulf with LPG.
