Lok Sabha Question No. 3146 (UNSTARRED), answered on 2022-08-04
Subject: Import of LNG from Russia
Ministry: PETROLEUM AND NATURAL GAS
Asked by: Sisir Kumar Adhikari

## LOK SABHA

## UNSTARRED QUESTION NO. 3146 TO BE ANSWERED ON 4 th August, 2022

## Import of LNG from Russia

## 3146. SHRI SISIR KUMAR ADHIKARI:

## पेोलयम और ाक ृतक गैस मंी

Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

(a) whether it is a fact that India imports LNG from Russia and its price is cheaper than India's some of other foreign sources and if so, the details thereof;

(b) whether the recent conflict between Russia and Ukraine has affected the prices of the Indian petro market;

(c) if so, the initiative of the Government to combat the rising price of crude oil inspite of higher import bill due to the upward rally in global oil and gas prices thereof; and

(d) the details of comparative price of quarterly global price per barrel and Indian rate during the last three years, year-wise?

## ANSWER

## पेोलयम और ाक ृतक गैस मंालय म राय मंी ( ी रामेवर तेल )

## MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI RAMESWAR TELI)

(a) India imports LNG from many countries including Russia.  Imports of LNG from Russia in  the  last  three  financial  years  were  a  marginal  proportion  of  total  LNG  imports  into  India. LNG  cargoes  from  Russia  are  priced  as  per  commercial  considerations  on  the  basis  of international prices, cost of freight, insurance, etc.

(b) and (c) The geopolitical situation between Russia and Ukrain has resulted in steep increase in global crude oil and gas prices.  Government closely monitors global energy markets as well as  potential  energy  supply  disruptions  as  a  fall-out  of  the  evolving  geopolitical  situation.    In November,  2021,  in  a  bid  to  control  inflationary  pressure,  Government,  in  consultation  and parallelly  with  major  energy  consumers,  had  agreed  to  release  5  million  barrels  from  its Strategic  Petroleum  Reserves.  Government  has  also  supported  the  initiative  of  International Energy Agency for collective oil stock release of 120 million barrels.

Further, to ensure security of crude supplies and to mitigate the risk of dependence on crude oil from single region, Oil Public Sector Undertakings (PSUs) have diversified its petroleum basket and  are  procuring  from  countries  located  at  various  geographical  locations  viz.  Middle  East, Africa, North America, South America etc.

(d) The details of comparative price during the last three years are at Annexure.

*****

ANNEXURE  REFERRED  TO  IN  REPLY  TO  PART  (d)  OF  LOKSABHA  UNSTARRED QUESTION  NO.  3146  TO  BE  ANSWERED  ON  04.08.2022  REGARDING  IMPORT  OF  LNG FROM RUSSIA.

Details of comparative price during the last three years

| Year                |   Average Indian** Basket ($/BBL) |
|---------------------|-----------------------------------|
| 2019-20             |                             60.47 |
| 2020-21             |                             44.82 |
| 2021-22             |                             79.18 |
| 2022-23 (Till July) |                            108.55 |

Source: PPAC

## **Note:-

-  The  Indian  basket  of  Crude  Oil  represents  a  derived  basket  comprising  of  Sour  grade (Oman  &  Dubai  average)  and  Sweet  grade  (Brent  Dated)  of  Crude  oil  processed  in Indian refineries
-  Petrol Prices are for 92RON for Singapore. Diesel & Kerosene Prices are for  Arab Gulf. LPG Price is Monthly Saudi Aramco CP based on 60:40 butane / propane ratio.