Jag Vasant docks at Kandla with 47,600 MT LPG
What's the story
The Indian-flagged LPG vessel, Jag Vasant, reached the Kandla Port in Gujarat on Friday morning. The ship was carrying 47,600 metric tons of liquefied petroleum gas (LPG), according to Moneycontrol. Its arrival comes amid fears of a gas supply shortage due to the ongoing conflict in West Asia. This is after two vessels, Pine Gas and Jag Vasant, crossed the conflict-ridden Strait of Hormuz on March 23 with over 90,000 metric tons of LPG.
Supply challenges
India imports around 60% of its LPG
India imports around 60% of its LPG from international markets, with 90% of these imports passing through the Strait of Hormuz. The Ministry of Petroleum has acknowledged that the ongoing geopolitical tensions are affecting LPG supplies. However, no disruptions have been reported at distributor outlets across India. The government has urged citizens to rely on official sources and avoid spreading rumors about potential shortages.
Stock assurance
Government assures enough stock of oil, LPG
The government has assured that there is enough stock of oil and LPG to meet the country's needs. It has also called reports of shortages a "deliberate misinformation campaign" aimed at triggering panic buying among consumers. The Ministry of Shipping said earlier this week that 20 Indian-flagged vessels are still stranded in the Strait of Hormuz due to the ongoing conflict in West Asia.
Recent arrivals
Two large LPG tankers have already reached India
The Ministry of Shipping has also said that two large LPG tankers, Shivalik and Nanda Devi, have already reached India after passing through the Strait of Hormuz. These vessels are part of efforts to replenish India's LPG stocks amid fears of a supply shortage due to the ongoing conflict in West Asia.