PM Modi assures uninterrupted oil supply amid West Asia crisis

Prime Minister Narendra Modi on Tuesday assured Parliament that India has sufficient crude oil reserves and robust mechanisms in place to ensure uninterrupted energy supply even as the ongoing West Asia conflict continues to disrupt global markets reported news agency ANIAddressing the Rajya Sabha the Prime Minister emphasised that the government has taken proactive steps over the past decade to strengthen the countryrsquos energy security and reduce vulnerability to global disruptions reported ANIStrategic Petroleum Reserves Expanded SignificantlyPM Modi highlighted that Indiarsquos strategic petroleum reserves have been expanded to over 53 lakh metric tonnes in the last 11 years with plans underway to increase the capacity further to more than 65 lakh metric tonnes reported ANIHe also pointed out that Indiarsquos refining capacity has seen substantial growth enabling the country to process larger volumes of crude oil domestically and maintain supply stability during global uncertaintiesStrait of Hormuz Disruption Raises Global ConcernsThe Prime Minister acknowledged that disruptions in the Strait of Hormuz mdash one of the worldrsquos most critical trade routes mdash have impacted global transportation of crude oil gas and fertilisersDespite these challenges PM Modi said India has been actively working to secure supplies from multiple sources He noted that in recent days several shipments of crude oil and LPG from different countries have successfully reached India reported ANIDiversification of Energy Imports Strengthens ResilienceUnderscoring the importance of diversification PM Modi said India has expanded its energy import network from 27 countries to 41 countries over the past decade This strategy aims to reduce dependence on any single supplier and enhance resilience against geopolitical risksldquoOur effort is to ensure that oil and gas supplies reach India from wherever possiblerdquo he said adding that diversification has already shown positive results in maintaining steady supplies reported ANIFocus on Domestic Gas DistributionThe government is also prioritising the expansion of domestic gas infrastructure including piped natural gas PNG and LPG connections PM Modi noted that significant progress has been made in the last decade with further acceleration in recent years to ensure wider access to clean energy for households reported ANIMeasures to Minimise Impact of Global CrisisThe Prime Minister acknowledged that the ongoing conflict has shaken global economies and could have longterm repercussions However he assured that India is taking continuous steps to minimise the impact on its economy and citizensHe expressed confidence that the countryrsquos preparedness and policy measures would help it navigate the crisis effectivelyFertiliser Supply Secured for FarmersAddressing concerns related to agriculture PM Modi said the government has made adequate arrangements to ensure sufficient availability of fertilisers for farmers ahead of the upcoming sowing season reported ANIHe stressed that efforts are being made to shield farmers from the adverse effects of global disruptions and ensure that agricultural productivity remains unaffectedWith inputs from ANI