India locks 1st-ever US LPG import deal
India's state-run oil companies have locked in their first-ever structured LPG import contract with the US and imports have already started (as of March 2026).
This means about 2.2 million metric tons of American LPG are being sourced, representing roughly 10% of India's annual LPG imports (volume/percentage not specified in the source).
Petroleum Minister Hardeep Singh Puri called it a "historic first," as India looks to move beyond relying mostly on Middle Eastern suppliers.
Deal is a win for energy security and trade balance
This deal is a win for energy security and trade balance. IndianOil, BPCL and HPCL will source LPG from US Gulf Coast producers; the contract is benchmarked to Mont Belvieu prices.
It could help narrow India's trade surplus with the US estimated at around $40 billion, but it also gives the country more options if global prices spike or supplies get shaky.
Government incurred more than ₹40,000 crore recently
Even as global LPG prices have risen recently, the government incurred more than ₹40,000 crore to keep cylinders affordable for families under the Ujjwala scheme, showing they're serious about making sure people don't feel the pinch at home.