Amid a severe energy crisis currently unfolding in the Middle East, Government sources have revealed that Qatar has provided specific guarantees regarding supply continuity, noting, "We are assured by Qatar that they will start supplying to India on the very first minute once the route is open."
It is learnt from the sources that the cargo movement near the Strait of Hormuz may start soon. "This comes after Iran pledges not to target neighbours unless attacked from their territory," the sources added.
This is complemented by a global interest in supplying the Indian market, as officials said that "We have surplus stock of LNG" and "We have got offer of LNG from a large number of countries."
The supply route from Qatar has been affected because the Strait of Hormuz — the narrow but essential shipping corridor that connects the Persian Gulf to the open sea — has been severely impacted by the ongoing conflict between Iran, the United States, and Israel.
Addressing concerns over supply chain vulnerabilities, the government has successfully reduced its reliance on the volatile Strait of Hormuz by diversifying its import routes. Sources explained that India has redirected a significant portion of its procurement to ensure a steady flow of oil, noting that "India has ramped up 10 per cent of its crude imports from sources other than the Strait of Hormuz."
This strategic shift is reflected in the overall import data, with officials highlighting that "60 per cent of crude oil import, which was sourced from other than Straits of Hormuz, has now increased from 60 per cent to 70 per cent."
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