India will buy American LNG at a competitive price – Petronet LNG statement

India is ready to buy American liquefied natural gas if it is offered at reasonable prices. About this reports Bloomberg. The statement by Akshay Kumar Singh, chairman of the country's largest gas importer, Petronet LNG, came as New Delhi seeks to increase imports from the United States after reaching a compromise in the trade dispute.

Last week, the US President Donald Trump announced that it would reduce tariffs on imported Indian goods from 50% to 18%, which reduced tensions between the countries.

In return, Washington has asked New Delhi to more than double its annual imports from the U.S. Bilateral trade in 2024-2025 was $132 billion, with a surplus of about $41 billion in India’s favor.

"India is committed to providing energy at the most competitive and affordable price to consumers," Singh told a press conference, adding that consumers will use gas if prices are reasonable compared to other fuels.

Demand for liquefied natural gas in the world's most populous country will show growth in the coming years, driven by active consumption in fertilizer production, city gas supply, oil refining, and the power industry.

India is the world's fourth largest importer of LNG and plans to increase the share of natural gas in its energy mix to 15% by 2030, up from about 6% today.

Petronet, which imports gas from Qatar and Australia, is considering new long-term contracts.

In parallel, it is expanding the capacity of the existing terminal and implementing a project to build a new import facility on the east coast of the country.

• On February 9, it became known that the Indian oil and gas company Bharat Petroleum is negotiating with the state oil company of Azerbaijan SOCAR regarding the purchase of liquefied petroleum gas (LPG).