India to discuss LNG agreements with US
nNEWDELHI: Oil minister Dharmendra Pradhan said India will discuss long-term liquefied natural gas (LNG) deals with the US during American President Donald Trump’s New Delhi visit next month, which is part of the country’s strategy to promote gasbased economy that may attract ₹4 lakh crore investments in the next five years.
India is also in discussion with Qatar and Russia for long-term energy deals, he said, adding that the matter is scheduled to be discussed with Qatar’s energy minister visiting India later this month.
“We are open (to signing the deal)... Whoever gives the competitive price on long-term basis,” he told reporters at the
National Conclave on Emerging Opportunities in Natural Gas Sector in New Delhi on Thursday.
India’s Petronet LNG Ltd (PLL), a private energy firm promoted by four state-run oil companies in September 2019, signed a non-binding memorandum of understanding (MOU) with American firm Tellurian to negotiate price for purchase of LNG. PLL intends to buy up to 5 million tonnes per annum LNG from the Driftwood LNG project of Tellurian. The MOU was signed during Prime Minister Narendra Modi’s visit to the US.
While addressing the conclave, Pradhan called upon stakeholders to contribute positively in transforming India into a gasbased economy.
The present share of gas in the energy basket of the country is 6.2% and the target is to take it to15% by 2030, he said.
He told states that the ministry of petroleum and natural gas has prepared a draft policy for City Gas Distribution (CGD) and states may adopt it with or without modifications to promote gasbased economy.
The 11th round of city gas distribution licensing bidding will be launched soon, which will help extend the supply of compressed natural gas (CNG) for automobiles and piped natural gas (PNG) for household in 475 districts from current 400, he said.