India signs first long-term LPG import deal with US

Core Insights - Indian state-run refineries have signed a long-term deal with the US to import 2.2 million tonnes of liquified petroleum gas (LPG) next year, marking the first structured LPG contract with the US for the Indian market [1][3] Group 1: Import Agreement Details - The agreement will allow India to source nearly 10% of its annual LPG imports from the US Gulf Coast, a significant increase from less than 0.6% last year [1][2] - Phillips 66 will supply two cargoes a month, while Chevron and TotalEnergies will each supply one cargo [3] Group 2: Strategic Context - The deal is part of India's broader strategy to secure LPG supplies from diverse sources and ensure energy security for households [4] - The Indian government has sanctioned Rs300 billion ($3.4 billion) to cover losses from under-recoveries on domestic LPG sales, despite global price increases [4] Group 3: Trade Negotiations - India is negotiating a trade deal with the US to lower tariffs on Indian goods, which have affected more than half of the goods exported to the US and posed a threat to the manufacturing sector [2]