India seeks Japan’s help to build LNG facilities
asked Japan to help build infrastructure needed to boost the usage of liquefied natural gas (LNG) in India and elsewhere in Asia.
India wants to increase the share of gas, which is a cleaner fuel than oil, to 15% of its energy usage by 2030 from 6.2% currently. The two ministers also discussed the possibility of developing joint energy projects in Africa.
The world’s biggest LNG buyers, all in Asia, are increasingly clubbing together to secure more flexible supply contracts in a move that shifts power to importers from producers in an oversupplied market. The world’s three biggest LNG buyers - China, Japan and South Korea - joined together last year in March to secure flexible supply contracts. However, in October the Indian cabinet approved a plan allowing New Delhi to work with Japan to make long-term LNG import deals more affordable for its consumers.