India's Energy Imports and US Relations
The Petroleum and Natural Gas Minister highlighted the potential increase in energy exports from the United States to India.
Current Energy Supply Dynamics
- India's number of oil suppliers has increased from 27 to 39.
- US shale oil serves as an alternative to India's reliance on Russian crude amid sanctions.
Impact on India's Energy SecurityIT services brand value
- US oil exports are expected to increase, aiding India's energy security.
- The US was India's fifth-largest source of crude for 2024-25.
US Energy Market Developments
- The US continues to expand its crude production and exports.
- Competition with OPEC suppliers in Asia is intensifying.
Liquefied Natural Gas (LNG) Exports
- The US is the largest LNG exporter worldwide.
- LNG exports to India have been increasing since early 2020.
Challenges with Russian Oil Imports
- Traditionally, Indian refineries purchase Russian crude on spot prices.
- Recent US sanctions have stalled talks on crude import deals from Russia.
