India Plans Foreign LNG Investments

India plans to invest in foreign LNG terminals to help meet its growing gas demand, oil minister Jaipal Reddy said in a speech at World Petroleum Conference in Doha.

India is also expanding its LNG regasification capacity and the country is looking for long-term LNG deals, he added.

As domestic gas shortfall widens due to fall in production from the D-6 block, gas distribution companies in India are scrambling to secure enough liquefied natural gas supplies.

The country’s LNG import capacity will reach 47.5 mtpa in 2015-16 and 62.5 mtpa in 2019-20, Petronet LNG finance director recently said.

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LNG World News Staff, December 6, 2011; Image: Petronet LNG