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Donald Trump looks to increase energy exports to India

29 June 2017 , 17:32Neftegaz.RU351

US plans to export more natural gas, clean coal and renewable resources and technologies to India to fuel the country’s growing energy demand and strengthen ties between the 2 countries, according to an Indo-US joint statement on June 28, 2017.

 

«President Trump affirmed that the US continues to remove barriers to energy development and investment in the US and to US energy exports so that more natural gas, clean coal, and renewable resources and technologies are available to fuel India’s economic growth and inclusive development,» Trump said after meeting Prime Minister Narendra Modi.

 

The shale revolution has placed US in a strong position to export gas to countries like India that are low on fossil fuel resources but have a rapidly rising demand for oil.

The 2 leaders have affirmed the continued importance of their strategic energy partnership and supported financing of energy projects, including clean coal projects.

 

They looked forward to conclusion of contractual agreements between Westinghouse Electric Company and the Nuclear Power Corporation of India for 6 nuclear reactors in India and also related project financing, according to the statement.

 

US plans to export more LNG to India and is negotiating for a higher price, Trump said in a separate press remark.

«We’re also looking forward to exporting more American energy to India as your economy grows, including major long-term contracts to purchase American natural gas, which are right now being negotiated, and we will sign them. Trying to get the price up a little bit,» Donald Trump said.

 

India already has long-term gas import deal with US state-run GAIL has a contract to buy 3.5 million tonnes per annum (mtpa) of LNG for 20 years from Cheniere Energy and has also booked capacity for another 2.3 mtpa at Dominion Energy's Cove Point liquefaction plant.

 

GAIL expects to receive supplies from early next year.

 

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