India Strengthens Energy Security at India Energy Week 2025
India has taken significant steps to enhance its energy security during the India Energy Week 2025. The country signed multiple strategic agreements and memorandums of understanding (MoUs) aimed at diversifying energy supply sources and fostering innovation in the oil and gas sector. At a press conference held during the event, Shri Hardeep Singh Puri, the Minister of Petroleum and Natural Gas, emphasized the importance of these agreements. He described them as crucial for building a more resilient and sustainable energy future for India.
Diversifying Crude Oil Imports
One of the key agreements signed at the event was between Bharat Petroleum Corporation Limited (BPCL) and Petrobras of Brazil. This optional term contract allows India to import up to 6 million barrels of crude oil. This move is part of India’s broader strategy to diversify its crude oil imports and reduce dependency on a limited number of suppliers.
In addition to this, Indian Oil Corporation Limited (IOCL) and the Abu Dhabi National Oil Company (ADNOC) signed a significant contract worth USD 7 billion. This agreement will enable India to source 1.2 million metric tons per annum (MMTPA) of liquefied natural gas (LNG) for 14 years, starting in 2026. BPCL also entered into a five-year LNG offtake agreement with ADNOC for 2.4 million metric tons, which can be extended for another five years. These agreements are vital for India’s transition to a natural gas-based economy, which is seen as a cleaner alternative to traditional fossil fuels.
Furthermore, IOCL is expanding its role as a regional energy supplier by signing its first LNG export agreement with Nepal’s Yogya Holdings. This agreement ensures the delivery of 1,000 metric tons annually via cryogenic trucks through Odisha’s Dhamra Terminal. Such initiatives not only enhance energy security but also strengthen India’s position in the regional energy market.
Technological Advancements in Oil and Gas
On the technical front, significant advancements were made during the India Energy Week. Oil and Natural Gas Corporation (ONGC) selected BP as the Technical Services Provider for the Mumbai High field, which is India’s largest offshore oilfield. BP will conduct a comprehensive review of field performance and implement technological improvements. This collaboration aims to stabilize and enhance production, ensuring that India can meet its growing energy demands.
Additionally, Engineers India Limited (EIL) signed an MoU with BP Business Solutions India Pvt. Ltd. to collaborate on refining, pipeline operations, and emission reduction technologies. This partnership is expected to drive innovation in the sector and contribute to India’s sustainability goals.
In offshore exploration, ONGC Videsh Ltd. and Petrobras signed an MoU to jointly participate in upstream oil and gas projects in Brazil, India, and other countries. This collaboration will explore opportunities in trading, low-carbon solutions, and digitalization. Oil India Limited also joined forces with Petrobras for hydrocarbon exploration in India’s deep and ultra-deep offshore basins, aligning with the government’s Hydrocarbon Exploration and Licensing Policy.
Commitment to Clean Energy Initiatives
India is also making strides in clean energy initiatives. BPCL has partnered with Eco Wave Power from Israel to establish the country’s first wave energy pilot project in Mumbai. This project will utilize wave energy converter technology, showcasing India’s commitment to exploring renewable energy sources.
In the biofuel sector, BPCL signed an MoU with the National Sugar Institute in Kanpur. This agreement aims to scale up sweet sorghum-based bioethanol production and build capacity for farmers and industry partners. Such initiatives are essential for promoting sustainable energy solutions and reducing reliance on fossil fuels.
Furthermore, BPCL entered into an agreement with Equinor India Pvt. Ltd. for the purchase of liquefied petroleum gas (LPG), specifically propane and butane. This agreement enhances hydrocarbon trade and supports India’s energy diversification goals.
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