Prime Minister Narendra Modi will interact with the Chief Ministers of states and union territories through video conferencing on Friday evening. In this meeting, the changing situation in West Asia will be reviewed and its impact on India will be assessed, especially issues related to Liquefied Natural Gas (LPG) and oil supply will be discussed.
The meeting will focus on preparedness, which includes issues like supply chain, energy security and safety of Indian citizens living abroad. The Prime Minister is likely to highlight in the meeting the importance of a collective response in the spirit of ‘Team India’, so that coordination remains between the Center and the states.
Measures to maintain stability in the country amid global uncertainty may also be discussed in the meeting. The states where elections are currently going on will not attend this meeting due to the code of conduct. Instead, separate meetings will be held with their Chief Secretaries through the Cabinet Secretariat, so that the process of planning and feedback can continue.
This meeting is also considered important because India is currently facing shortage of LPG. Due to this, the supply of this essential fuel used in homes is being affected. The Strait of Hormuz has been closed to most countries from Iran’s side. However, India has been kept apart from this. Despite this, there is concern that the situation may become more difficult in the future.
India has 60 days of fuel: Government
Earlier today, the government assured citizens that there was no immediate threat despite rising tensions in West Asia. The government said that the country has fuel available for 60 days. People were appealed not to pay attention to speculations related to fuel shortage. The government confirmed that the country’s energy supply is stable and well managed and that sufficient reserves exist to meet current demand.
According to the Ministry of Petroleum and Natural Gas, the supply of crude oil has already been ensured for the next two months. Public sector oil market companies have already made arrangements for imports, so that the supply remains uninterrupted. Despite constraints in the Strait of Hormuz, India is buying crude oil from more than 40 countries, thereby reducing dependence on any one route or region.
Officials said the country’s refineries are operating at more than their full capacity, ensuring a steady supply of fuel across the country. India’s total storage capacity can meet about 74 days of consumption. Whereas, the current reserves are enough for about 60 days, which also includes strategic petroleum reserves. Officials stressed that there is no shortage even after several weeks of the crisis and plans for further procurement are already in place to maintain stable supplies in the future.