2025-11-19 06:40:00
U.S. LPG FOR INDIA
BLOOMBERG - November 17, 2025 - India’s state-run refiners have signed their first long-term deal with the US to import 2.2 million tons of LPG next year, a strategic bid to boost energy ties as New Delhi courts a trade pact with Washington.
Top refiners Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp. collectively floated a tender to acquire US supplies of liquefied petroleum gas. The deal will allow the world’s second-largest LPG consumer to source nearly a tenth of its imports from the US Gulf Coast, Indian Oil Minister Hardeep Puri said in a post on X.
That would represent a significant jump from last year, when the US provided less than 0.6% of India’s LPG imports. The country’s biggest suppliers are Qatar, the UAE and Saudi Arabia, according to Kpler data.
New Delhi has been negotiating a trade deal with the US to lower the tariffs US President Donald Trump imposed on the South Asian nation, partly in retribution for its Russian oil purchases. The penalties have already affected more than half of Indian goods exported to the American market and threaten to unravel India’s manufacturing ambitions. Officials in New Delhi have recently expressed cautious optimism that a deal is on the horizon.
“India has been contemplating purchasing from the US for long,” Rajesh Agarwal, federal commerce secretary, told reporters in New Delhi on Monday. “It’s not part of any negotiation per se but to keep trade with the US balanced.”
Phillips 66 will supply two cargoes a month under the term contract, while Chevron and TotalEnergies will supply one each, according to traders familiar with the matter.
India’s LPG consumption has soared 74% over the past decade — outpacing total fuel demand — driven by Prime Minister Narendra Modi’s campaign to help poor households switch from biomass to cleaner cooking fuel, a move that’s also boosted his party’s appeal among women voters.
Ahead of the deal, the three refiners visited the US in July for discussions with local producers. Supplies will be priced off the Mont Belvieu benchmark, Minister Puri added.
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