The Petroleum and Natural Gas Regulatory Board (PNGRB) has initiated the bidding process for the development of Liquefied Petroleum Gas (LPG) pipeline infrastructure to eliminate bulk movement to the extent possible.
As part of this initiative, nine LPG pipeline projects have been identified for development. Currently, PNGRB is in the process of concluding bid proposals for four pipelines. The cumulative length of these proposed pipelines is nearly 2,500 km, reflecting the scale and strategic importance of the initiative. The pipelines include the Cherlapally–Nagpur Pipeline, Shikrapur–Hubli–Goa Pipeline, Paradip–Raipur Pipeline, and Jhansi–Sitarganj Pipeline.
The regulatory body said that these pipelines would attract a tentative investment of around Rs12,500 crore. Moreover, the move is expected to curb accidents associated with LPG transportation by road.
The regulatory body, in a press note, said that these pipelines would also act as storage during times of need and help address supply security crises in the country.
The proposed pipelines are designed to connect key supply sources, including refineries and import terminals, with LPG bottling plants, thereby ensuring seamless evacuation and distribution of LPG across multiple regions.
“India's LPG consumption in cooking and commercial end use is recognised to be crucial. There is a need to connect ports and refineries with bottling plants efficiently. While pipelines are the preferred mode for transportation, a significant volume is still carried by bulk tankers,” the regulatory body said.
Meanwhile, oil prices fell sharply on Friday after the announcement by Iranian Foreign Minister Abbas Araghchi that Iran had reopened the Strait of Hormuz to commercial shipping amid the ceasefire in Lebanon. Before the minister’s statement, Brent crude was already down 5.06% at $94.36 per barrel.
Following the announcement, Brent crude was trading at $88.94 per barrel, down 10.51% or $10.45, at 21:20 PM IST, while US WTI was trading at $83.14 per barrel, down 12.20% or $11.55.
As per reports, Abbas Araghchi said in a social media post that the Strait of Hormuz would reopen after weeks of closure. However, he noted that the reopening would remain in effect only as long as the ceasefire between Washington and Tehran holds, which is set to expire on April 21.
"In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran," he posted on X.
US President Donald Trump thanked the Iranians for announcing that the Strait of Hormuz is now fully open. “IRAN HAS JUST ANNOUNCED THAT THE STRAIT OF IRAN IS FULLY OPEN AND READY FOR FULL PASSAGE. THANK YOU!” he wrote.