India explores option of building gas storage

India is evaluating the option of building storage for natural gas to hedge against supply disruptions, the country’s oil secretary said on Tuesday.

Last year, India had to ration gas to fertiliser and other sectors after imports under a long-term deal with Russia took a hit due to the Ukraine war.

“India would ‘probably’ need help from foreign companies for building gas storage,” the secretary, Pankaj Jain, told reporters, adding that the country had reached out to a few firms.