India restarts LNG alliance talks with Japan, South Korea

As the demand for LNG in Asia grows, India has renewed its talks with Japan and South Korea on  forming a liquefied natural gas purchasing alliance. 

China could also join in as a partner, in a network that would jointly source “reasonable, rational and affordable” LNG, India’s minister of petroleum and natural gas, Dharmendra Pradhan said, Reuters reports.

In his address to the reporters, Pradhan noted the talks with South Korea and Japan have already started, led by the Indian gas utility GAIL.

Energy consumers in Asia will rely heavily on gas in the next two to three decades, Pradhan added, noting that India is looking to slowly shift to a gas-based economy.

Gas is currently taking up eight percent od India’s energy mix, and the domestic production has been up in the last ten years, as well as the imports of liquefied natural gas that have risen by 335 percent, according to the report.

Current gas demand in India is at 121 million standard cubic meters per day, with domestic supply standing at 80 mscmd, according to data from India’s ministry of petroleum and natural gas.

LNG World News Staff