India agreed to source nearly 10% of its liquefied petroleum gas from the US, as New Delhi works to finalize its long-awaited trade deal with Washington.
Monday’s agreement, which an Indian minister called a “historic first,” will bolster India’s energy security and also mollify the US, The Times of India wrote, after Washington slapped New Delhi with punishing tariffs over its trade surplus and purchases of Russian crude.
The deal also helps India diversify its supply of LPG, a key cooking fuel, away from Gulf countries like the UAE and Saudi Arabia, even as New Delhi increases its Middle East crude oil imports following sanctions on Russia. It reflects “the delicate balance India is trying to achieve,” Bloomberg reported.
