OMCs clinch large LNG import deal with US for 2026

India’s state-owned oil companies have concluded a one-year deal for imports of 2.2 million tonnes per annum of liquified petroleum gas (LPG) in 2026 from the US, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Monday. The imports, accounting for close to 10% of the country’s annual imports, will be sourced from the US Gulf Coast, the first structured contract of US LPG for the Indian market.The deal follows the commitment expressed by India to scale up energy imports from the US, with which the country is negotiating a bilateral trade agreement (BTA), even as most Indian goods face an additional tariff of 50% in the US over the most favoured nation rates.