Amid the ongoing gas crunch due to the Iran war, the Indian government in a briefing on Wednesday said that 47.4 Mmsmd (Million Metric Standard Cubic Meter Per Day) supply has been hit. The government also added that there are two LNG cargoes that are on the way to India.
Sujata Sharma, Joint Secretary (Marketing & Oil Refinery), Ministry of Petroleum and Natural Gas during the briefing said that 189 Mmsmd gas is consumed per day. She further said that the ministry has already passed a gas control order and the domestic customers are priority when it comes to CNG and PNG.
When talking about crude she said India's supply remains secured and she clarified that the volumes that were recieved on Wednesday are more than what would have arrived from Strait of Hormuz.
Sharma noted that India is importing crude from 40 days and 70% of it is coming from Hormuz sources. She also added that two cargos are expected to land in India to strengthen the supply. Further the refineries are operating at its highest througput.
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Discussing the rising tensions over LPG Sharma said there is no need for customers to panic and book cylinders. She also noted that in order to tackle the increasing panic booking the government at the distributor level has implemented a system for delivery code. Through this system customer will receive an one time code for delivery.
In addition the government has increased the gas booking from 21 days to 25 days.
Giving out the current data Sharma said 60% of India's requirements are imported and from this 90% is from the Strait of Hormuz. She also pointed that after the governments order domestic LPG production has increased by 25%. The government has asked the OMC companies to give preferece to educational institutes and hospitals.
Talking about the price hike she sais the government is absorbing the prices and it has already approved Rs 30,000 crore for under recovery of OMCs.
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