NEW DELHI, Feb 10 (Reuters) - Indian oil companies are
looking to buy U.S. liquefied natural gas (LNG), buoyed by the
Trump administration's lifting of a ban on export permits for
new projects, Oil Secretary Pankaj Jain said on Monday.
The world's fourth largest importer of LNG, India aims to
raise the share of gas in its energy mix to 15% by 2030 from
6.2% now.
"Indian oil companies are talking to U.S. companies for
additional LNG sourcing," Jain said, adding that among such
companies were GAIL (India) Ltd, Indian Oil Corp
and Bharat Petroleum Corp.
Indian companies will discuss gas sourcing with suppliers of
U.S. LNG on the sidelines of the four-day India Energy Week
conference from Monday, Jain told reporters.
Indian companies would consider buying stakes in U.S. LNG
projects if the deals were attractive, he added.
GAIL will revive plans to buy a stake in a U.S. LNG plant or
secure a long-term US LNG deal, its chairman, Sandeep Kumar
Gupta, told Reuters.
GAIL now imports 5.8 million tons of U.S. LNG annually under
long-term deals, split between Berkshire Hathaway Energy's Cove
Point plant and Cheniere Energy's Sabine Pass site in
Louisiana.
The bulk of India's LNG imports under long term deals is
supplied by Qatar, with prices linked to crude oil. India's gas
sourcing portfolio should have a mix of both U.S. Henry Hub and
crude oil linked prices, Jain said.
Indian companies are particularly keen to buy LNG from the
U.S. as crude oil could be purchased from multiple suppliers.
Indian Oil Minister Hardeep Singh Puri said energy imports
from the United States would be discussed when Prime Minister
Narendra Modi meets President Donald Trump this week.
At least six Asian countries, including Japan and Taiwan,
have expressed interest in buying U.S. LNG, with some hoping to
narrow their trade deficits in the face of Trump tariff threats,
while others look to expand and diversify supplies.
(Editing by Clarence Fernandez)