Amid trade talks, GAIL goes scouting for US LNG stake, 15-year supply deal
[ad_1] NEW DELHI: Amid ongoing tariff talks, India is stepping on the gas — literally — to reduce its trade surplus with the US in the hope of an early deal. State-run gas utility GAIL has invited expressions of interest for acquiring upto 26% stake in a US LNG (liquefied natural gas) project and a 15-year gas sourcing contract.The move comes within two months of talks between prime minister Narendra Modi and US president Donald trump in Washington, where both agreed to expand energy ties. India offered to increase its purchase of US oil and gas from $15 billion in 2024 to $25 billion in the coming years, contributing towards reducing the $45.7 billion trade surplus.India meets 85% of its oil requirement and 50% of gas needs through imports. The US is India’s fifth largest oil supplier of oil and […]