India Seeks US LNG Deals Ahead of Trump Meeting
Indian importers of liquefied natural gas (LNG) are in talks to secure long-term supply agreements from US exporters, including Cheniere Energy Inc., amid Prime Minister Narendra Modi's upcoming meeting with President Donald Trump.
Gail India Ltd. is reportedly considering investing in a US project, while Indian Oil Corporation (IOC) and other companies are negotiating to purchase LNG from American suppliers on a long-term basis.
The discussions coincide with Modi's visit to Washington DC this week, following Japan's recent pledge to increase US LNG imports to reduce its trade surplus. India faces pressure from its government to strike deals that would smooth relations with the US, but is seeking favorable terms before finalizing any agreements.
Cheniere Energy declined to comment, while the Indian Ministry of External Affairs, IOC, and Gail have not responded to requests for comment.
India's LNG demand is projected to surge due to its efforts to transition away from fossil fuels. The US is the world's largest LNG exporter, and India seeks to diversify its energy sources by increasing its dependence on American supply.
Other Asian nations, including Taiwan, Japan, South Korea, and the EU, are exploring similar agreements to mitigate the impact of Trump's tariffs and reduce their trade surpluses with the US.
Negotiations between Indian companies and US suppliers have intensified since Trump's election victory. The outcome of these discussions remains uncertain, with any potential deals unlikely to be finalized until later in the decade.