Energy Diplomacy: Indian Giants Seek to Tap into U.S. Gas Bonanza
Indian Oil Firms Set Sights on U.S. LNG Amid Export Opportunities
In a strategic move to diversify energy sources, Indian oil companies are actively exploring U.S. liquefied natural gas (LNG) purchases following the Trump administration's decision to lift export permit restrictions on new projects, revealed Oil Secretary Pankaj Jain on Monday.
As the world's fourth-largest LNG importer, India is ambitiously targeting a significant expansion of natural gas in its energy portfolio. The country aims to increase gas's share from the current 6.2% to 15% by 2030, signaling a major shift in its energy strategy.
Major Indian energy players, including GAIL (India) Ltd, Indian Oil Corp, and Bharat Petroleum Corp, are currently engaged in discussions with U.S. companies to secure additional LNG supplies. This proactive approach underscores India's commitment to enhancing its energy infrastructure and reducing dependence on traditional fossil fuels.
The emerging partnership between Indian energy firms and U.S. LNG exporters represents a promising avenue for mutual economic benefits and strengthened international energy cooperation.