Gas Prices Expected to Drop by 2026, Says Petroleum Minister
On 10 Feb, Monday,Petroleum Minister Hardeep Singh Puri said that gas prices are expected to come down by 2026. He also stated that India is open to importing energy from all sources at the lowest possible rates.
According to a PTI report, domestic oil marketing companies are actively looking for more gas supplies to help reduce prices. Hardeep Singh Puri mentioned that the international market is likely to see a significant increase in natural gas availability by 2026. He added that India could receive more gas from Qatar and that Indian companies are exploring additional sources, so the prices may reduce.
The minister also noted that LPG supply in the country is nearly saturated. The government’s goal is to provide natural gas through pipelines to every household, as it is about 30% cheaper than LPG.
India Secures Energy Supply Amid Global Uncertainty
India has strengthened its energy security despite global challenges, Petroleum Minister Hardeep Singh Puri said while addressing a press conference on the upcoming India Energy Week 2025, starting on February 11. He dismissed concerns about the impact of U.S. sanctions on India’s energy imports from Russia.
He also highlighted that India’s energy suppliers have increased from 27 to 39, with Argentina being the latest addition. “We are open to importing from all sources. Our tenders are open to all suppliers, and we always buy from the cheapest source,” he stated.
Meanwhile, Indian energy companies, including Indian Oil, Bharat Petroleum, and GAIL, are exploring the purchase of LNG and crude oil from the U.S. A senior official revealed that domestic firms might sign long-term contracts and even invest in American energy projects. This comes ahead of Prime Minister Narendra Modi’s visit to the U.S. later this week, where energy cooperation is expected to be a key discussion point.
Hardeep Singh Puri also hinted at possible energy deals during Modi’s visit, stating, “I would be surprised if sourcing energy from the U.S. is not part of the discussions.”
India Energy Week 2025 Set to Be the Largest Yet
India is gearing up for its biggest-ever energy event as India Energy Week (IEW) 2025 promises to be larger and more impactful than its previous editions. Scheduled to take place in the national capital Delhi, the event will bring together global energy producers and buyers for key discussions.
Petroleum Minister Hardeep Singh Puri highlighted that IEW 2025 will span over 1 lakh square meters, making it the second-largest energy event globally in terms of ministerial and CEO participation, exhibition space, and session count. He emphasized that the event will be more diverse and influential than before.
