India’s HPCL issues rare tender seeking tanker to load Russian LPG, document shows

India's HPCL issues rare tender seeking tanker to load Russian LPG, document shows


India’s state-run Hindustan Petroleum Corp has issued a rare tender seeking a liquefied petroleum gas tanker to immediately load propane and butane from Russia’s Ust-Luga port, a tender document seen by Reuters on Monday, April 13, showed.

The vessel, to be loaded with 12,000 metric tons of butane and 8,000 tons of propane for discharge on India’s west coast, must not be under sanctions and must have no links to Iran, the document said.

HPCL did not immediately respond to a request for comment.

Read more: US-Iran War Live Updates

Indian state refiners are seeking to buy LPG, used as cooking gas, from more diversified sources, including Russia, as India faces its worst LPG supply crisis in decades.

Supplies from the Middle East have been disrupted by the closure of the Strait of Hormuz following the US-Israeli war on Iran.

Indian nL1N4000IN authorities have previously said they are purchasing LPG from countries including the US, Norway, Canada, and Russia.

India consumed 33.15 million tons of LPG last year, with imports accounting for about 60% of demand. About 90% of those imports came from the Middle East.

HPCL shares closed /span>/span>350.50 on Monday. The stock has declined nealry 30% this year.



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