Modi Addresses Energy Concerns Amid West Asia Conflict
Prime Minister Modi's Remarks on West Asia Conflict
On Monday, Prime Minister Narendra Modi expressed that the ongoing conflict in West Asia will have long-lasting effects, urging India to stay united and prepared.
During a session in the Lok Sabha, Modi highlighted the disruptions in energy supplies resulting from the conflict. In retaliation to actions taken by the United States and Israel, Iran has largely obstructed the vital Strait of Hormuz, a key route for international shipping. This strait is crucial as it facilitates approximately 20% of the world's oil supply.
The blockade has impacted India's liquefied petroleum gas (LPG) supplies, as the nation imports around 60% of its LPG needs, primarily from Gulf nations. Consequently, several restaurants have temporarily closed, and there have been reports of long lines at LPG distribution centers.
Modi noted, "India relies heavily on crude oil imports via the Strait of Hormuz," and assured that the government is working to minimize the impact on citizens.
To maintain a steady supply, domestic LPG production has been prioritized. Modi stated, "We have a strategic petroleum reserve exceeding 5.3 million tonnes," and emphasized the enhancement of refinery capabilities. The government is closely monitoring developments in the Gulf and the Strait of Hormuz to safeguard the country's energy, gas, and fertilizer requirements.
He remarked, "We have faced similar challenges with unity during the COVID-19 pandemic, and we must be ready once again."
Modi's comments followed a meeting of India's Cabinet Committee on Security, which assessed the situation in West Asia and deliberated on strategies to alleviate its effects on the nation.
Additionally, Modi expressed heightened concerns regarding the situation in West Asia, given that approximately one million Indians reside and work in Gulf countries.
He stated, "Commercial vessels operate in that region, and the number of Indian crew members is substantial. Thus, our concerns are understandably greater."
Since the onset of the conflict, over 375,000 Indians have returned home, with nearly 1,000 coming back from Iran, including more than 700 medical students.