India plans to set up strategic gas reserve amid global energy crisis

India is expediting a plan to set up a strategic gas reserve on the lines of its strategic petroleum reserve (SPR), amidst a global energy crisis triggered by the Russia-Ukraine conflict, which has sent fuel prices soaring. Re­por­tedly, the government is planning to utilise existing LNG tunnels and exhausted oil wells, and to build new underground infrastructure similar to the large salt caverns for the SPR. India has 5.33 mt of underground strategic oil reserve facilities in Visakhapatnam, Mangaluru and Pa­dur. The development of a natural gas reserve will enable India to meet the de­ma­­nd from priority sectors such as CGD networks, fertilisers and cooking gas.