On the opening day of India Energy Week 2026, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced several key energy, shipping, and clean fuel agreements. These agreements reflect India’s growing global energy partnerships and its push towards diversification and indigenization. Puri highlighted the country’s recent engagements with Canadian ministers, as well as partnerships with Japan, South Korea, and Brazil.
One of the significant agreements is a shipbuilding contract between Oil and Natural Gas Corporation (ONGC) and Mitsui O.S.K. Lines of Japan, with Samsung Heavy Industries of South Korea as the shipbuilder. The contract is for the delivery of two vessels, expected in 2028 and 2029, which will strengthen India’s offshore and maritime energy capabilities.
Another major agreement is a crude supply term contract between Bharat Petroleum Corporation Ltd (BPCL) and Brazil’s Petrobras. The contract is for the supply of 12 million barrels of Brazilian crude, valued at around $780 million, and will help diversify India’s crude import basket and reinforce the country’s energy security.
Indian Oil Corporation (IOC) also signed memoranda of understanding with ONGC, Petronet LNG, and Oil India for the construction of 13 compressed biogas (CBG) plants. This marks a significant step in scaling up India’s bio-energy infrastructure. In the shipping segment, GAIL (India) Ltd, Japan’s K Line, and JM Bakshi Marine Services entered into a term sheet for equity participation in a shipping company.
The day also saw the unveiling of an indigenous steel gas heating technology developed by Engineers India Ltd in collaboration with Ansel Steel. This reflects progress in domestic process and engineering innovations for the energy sector. Several technology and product launches were also showcased, including a new lightweight composite LPG cylinder and an indigenously developed hydrogen-powered drone.
Puri summed up the day’s developments, stating that a range of initiatives across hydrocarbons, gas, biofuels, shipping, and clean technologies had been set in motion. He indicated that further technical briefings and demonstrations would be organized for the media in the coming days. Overall, the agreements and launches on the opening day of India Energy Week 2026 demonstrate India’s commitment to expanding its global energy partnerships and pushing towards a more diversified and indigenized energy sector.