In­dia look­ing to im­port LNG from Aus­tralia

Power Watch India - - DESPATCHES FINANCE -

State-owned nat­u­ral gas trans­porter and trader GAIL (In­dia) Ltd, power pro­ducer NTPC Ltd and gas lo­gis­tics com­pany Petronet LNG Ltd are ex­plor­ing plans to im­port nat­u­ral gas from Aus­tralian com­pa­nies, the de­tails of which will be fi­nalised in two months, said a state­ment quot­ing Power Min­is­ter Piyush Goyal, who is in Bris­bane with of­fi­cials for a bi­lat­eral en­ergy di­a­logue. Aus­tralia has about 2.8 tril­lion cu­bic me­tres or 2% of world gas re­serves. It is also a ma­jor ex­porter of coal, gas and ura­nium with en­ergy ex­ports ac­count­ing for $71 bil­lion in 2013-14. Goyal urged Aus­tralian firms to sup­ply gas at an af­ford­able price con­sid­er­ing the fact that In­dia is look­ing to re­place coal, which is abun­dantly avail­able in In­dia. “Since coal-based power is avail­able in In­dia at less than 5 cents per unit, liqui­fied nat­u­ral gas (LNG) providers should con­sider sup­ply­ing gas to In­dia at a price that is com­pa­ra­ble,” the state­ment said. In­dia is also keen to ac­cess the coun­try’s clean coal tech­nolo­gies to re­duce car­bon emis­sions from ther­mal power plants, which ac­count for 70% of In­dia’s 284 GW power pro­duc­tion.

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