Modi on fuel crisis
Jaipur/Balotra, July 5 -- Prime Minister Narendra Modi on Saturday said India successfully navigated the global energy crisis triggered by the conflict in West Asia through timely policy decisions, diplomatic outreach and expansion of domestic energy capacity, preventing severe fuel shortages and sharp price hikes faced by several countries.
Addressing a public gathering after inaugurating the Pachpadra Refinery and launching development projects worth about Rs.1.06 lakh crore in Rajasthan's Balotra district, Modi said India's response to the crisis would be remembered as an "unprecedented" chapter in the country's history.
Describing the West Asia conflict as the biggest energy crisis of the 21st century, the Prime Minister said many nations struggled to secure fuel supplies, while India managed to protect its citizens from the worst effects of the disruption.
"The war in West Asia created the biggest energy crisis of the 21st century. Many powerful nations faced fuel shortages, but India overcame the challenge because it took the right decisions at the right time, assessed the situation correctly, used its resources wisely and strengthened its diplomatic engagement," Modi said.
He alleged that while some people were spreading rumours and creating panic, the Centre was working continuously at both the policy and diplomatic levels to ensure uninterrupted energy supplies.
Modi said India was particularly vulnerable because nearly 70% of its LPG demand is met through imports, with around 90% of those imports traditionally routed through Gulf countries via the Strait of Hormuz. As the conflict disrupted shipping routes, the government moved quickly to boost domestic LPG production.
He said industrial gas production was diverted towards LPG manufacturing, resulting in an additional 54,000 metric tonnes of LPG within a week. Refineries that had not previously produced LPG were also reconfigured to increase output.
At the same time, the government accelerated the rollout of piped natural gas (PNG) connections to reduce household dependence on LPG, he said.
According to Modi, over 11 lakh households received PNG connections in a short period, helping stabilise domestic demand. He added that despite estimates suggesting LPG cylinder prices could rise to nearly Rs.2,000 during the crisis, domestic consumers continued to get cylinders for around Rs.950. Commercial LPG prices were also reduced, he said.
Referring to global crude oil markets, Modi said prices surged from around USD 70 per barrel to nearly USD 120 per barrel after the conflict escalated and supply chains were disrupted....
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