IEW 2025: India open to buying energy from all sources, gas prices expected to come down in 2026, says Hardeep Singh Puri

Union Oil Minister Hardeep Singh Puri connected Monday said that India is unfastened to vigor imports from each sources astatine the lowest rates, and home lipid selling firms are looking for much state which is expected to outgo little successful 2026.

Addressing a presser connected Indian Energy Week 2025 opening connected Tuesday, Puri allayed fears of an interaction connected vigor supplies to India from Russia aft US sanctions.

“Today we person a concern that we person (increased) from 27 suppliers to 39 suppliers. We added Argentina among others. We are unfastened to import from each sources." "We issued tenders astatine the importation. Those tenders are unfastened to immoderate supplier. We bargain from the cheapest root possible." 

He besides informed that home (oil selling firms) companies are looking for much gas.

"We besides expect the prices of state (natural gas) to travel down. My speechmaking of the planetary marketplace is that successful 2026, you volition statesman to spot a large summation successful the availability of earthy gas. We whitethorn get much state from Qatar. Our companies are looking for much gas." 

Puri stated that the LPG (liquified petroleum gas) is much oregon little saturated successful the country, and the thought is to instrumentality piped earthy state to each location arsenic it is 30 per cent cheaper.

A apical authoritative said that Indian Oil, Bharat Petroleum, and GAIL are considering the acquisition of LNG (liquified earthy gas) and crude lipid from the US.

The apical authoritative besides stated that home firms whitethorn motion semipermanent contracts and whitethorn look to put successful the US (energy projects).

This assumes value successful presumption of Prime Minister Narendra Modi's sojourn to the US aboriginal this week wherever treatment connected vigor is apt connected the agenda.

During the presser, Puri besides said, "I volition beryllium amazed if sourcing of vigor from the US does not fig successful the discussions (of PM and Trump)." He said, "With President (Trump) saying helium wants to spot planetary prices of vigor to travel down, helium wants much and much vigor to travel to the market. For countries similar India it is simply a affirmative development." 

During the India Energy Week 2025, vigor buyers volition clasp meetings with producers successful the nationalist capital.

Puri said that IEW'25 is acceptable to beryllium adjacent larger, much diverse, and much impactful than its erstwhile 2 editions. Covering implicit 1 lakh quadrate metres, IEW'25 volition beryllium the second-largest vigor lawsuit globally successful presumption of ministerial and CEO participation, accumulation space, and the fig of sessions.

He besides said that the Ministry of Petroleum & Natural Gas volition big a Clean Cooking Ministerial, bringing unneurotic planetary policymakers, manufacture leaders, and experts to accelerate the modulation to cleanable cooking solutions.

The lawsuit volition showcase India's occurrence with the Pradhan Mantri Ujjwala Yojana (PMUY) arsenic a exemplary for planetary adoption.

It aims to foster planetary collaboration, thrust argumentation discussions, and facilitate exertion sharing to guarantee clean, affordable, and accessible cooking vigor for households worldwide.

Puri besides hinted astir holding the adjacent (10th OALP) circular of merchantability of lipid and state assets precise soon.