India to import more oil & gas from USA
Taking their strategic partnership a step forward, India & US concluded a pact for the supply of US gas to India. The collaboration between Indian Oil Corporation, Exxon and Chart Industries for supplying liquefied natural gas will promote access to gas in areas where the current pipeline infrastructure has not yet been developed.
“Our energy equation with the US is now a multifaceted one — the Strategic Energy Partnership, established in 2018, has provided an effective institutional structure to align our interests, expectations and synergies. This is evident from the fact that the energy trade touched $7.7 billion last year — this intensity of energy exchange is a story of the last two years. There is much potential for further capital, technology and innovation infusion to develop better ecosystems in both countries. We see the relations only growing more robust and one that will be capable of withstanding the test of time,” Petroleum minister Shri Dharmendra Pradhan said.
In 2019, India augmented its intake of oil from the US to about 1,84,000 barrels per day, almost four times more than in 2018.