NEW DELHI: While apprehensions linger about potential negatives from the new US administration under President Donald Trump, India sees a silver lining in the possibility of enhanced energy trade.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday hinted at increased US energy supplies to India, as the Trump administration focuses on ramping up oil and gas production.
Speaking on the sidelines of the auto industry body SIAM’s 3rd International Symposium for Thriving Eco-Energy in Mobility, Puri said, “If you were to ask me whether more American energy is going to come onto the market, my answer is yes. If you say there is a potent possibility of more purchase of energy between India and the US, the answer is yes.”
India has already expanded its oil supplier base from 27 to 39 countries, and Puri welcomed the potential for greater imports from the US. He noted that the government has been actively seeking diverse sources of energy, citing his outreach to countries like Brazil and Argentina for cooperation in seismic surveys and offshore activities.
Surge in supply
Puri acknowledged that global energy markets are witnessing a surge in supply from regions like the US, Brazil, Guyana, Suriname, and Canada, which may also lead to softer oil prices. “There is no shortage of oil. I think that’s a given,” he stated, emphasising that increased availability in the global market could positively impact prices.
While India is closely monitoring the Trump administration’s energy policies, Puri stressed the importance of a measured response to early decisions. “Some decisions have been taken. Let them come in,” he remarked, declining to comment on the US withdrawal from the Paris climate agreement.
On the domestic front, the minister urged automakers to accelerate the production of flex-fuel vehicles to support India’s ethanol blending goals. He highlighted that the country is set to achieve 20 per cent ethanol blending five years ahead of schedule, thanks to a supportive ecosystem.
Puri also raised the prospect of moving beyond 20 per cent blending, asking stakeholders to consider the agricultural and industrial linkages needed for such a transition.
With energy diversification and sustainability in focus, India appears poised to turn global shifts in oil supply into opportunities for economic and environmental progress.
