According to Russian media reports on March 12, India is facing a severe energy crisis and has begun importing liquefied petroleum gas (LPG) from Argentina to ensure domestic supply. According to a report by The Nation on Thursday, the country, which will become the world's most populous country from 2023, has only enough liquefied petroleum gas reserves to last ten days, prompting the Modi government to urgently find suppliers in different markets around the world.
Liquefied petroleum gas (mainly used for cooking and heating) is a key energy source in India. According to data cited by the professional media "Argus", the country's state-owned enterprises are purchasing at a price of US$350 to US$400 per ton higher than the reference price to ensure stable supply.
India consumes about 2 million tons of LPG every month. For comparison, Argentina's annual consumption is about 1.5 million tons. In a densely populated country with a limited gas pipeline network, liquefied gas tanks remain the main source of energy for millions of homes and businesses. Last year, the country imported nearly 21 million tons of liquefied petroleum gas through the Strait of Hormuz, one of the world's most important energy trade routes that was blocked after the United States and Israel launched attacks on Iran.
Market interest in Argentine natural gas is heating up. This world-class unconventional oil and gas reserve area in the Patagonia region has become a core driving force for the South American country's energy development and opened up channels for new natural gas exports, including associated gas.
(Original title: India recurres an este país latinoamericano para abastecerse de gas ante la emergencia energética)
