Indian Firms Discuss Long-Term LNG Supply Deals With the U.S.

Indian Firms Discuss Long-Term LNG Supply Deals With the U.S. | OilPrice.com

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Breaking News:

ByTsvetana Paraskova– Feb 11, 2025, 4:45 AM CST

Indian Oil Corporation is in discussions to agree on a long-term supply deal with U.S. Cheniere Energy, in what could be one of many new LNG supply agreements between India and America.

Indian Oil, the state oil and gas and refining giant, is negotiating a 15-year agreement to source LNG from Cheniere, the top U.S. exporter, a source at Indian Oil told Reuters on Tuesday on the sidelines of an energy conference in India.

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The potential deal could be for up to 2 million metric tons per year beginning in April 2027, according to the Reuters source.

Indian buyers have intensified contacts and discussions with U.S. LNG exporters to buy more liquefied natural gas from America as part of a drive to avoid U.S. tariffs that President Donald Trump is slapping on a nearly daily basis these days.

After President Trump ended the Biden pause on permits for new LNG export projects, Indian oil firms are interested in buying more U.S. LNG, Indian Oil Secretary Pankaj Jain said at the conference in India.

“Indian oil companies are talking to U.S. companies for additional LNG sourcing,” Jain noted.

Indian Oil, GAIL India, and Bharat Petroleum Corporation Limited (BPCL) are among the companies involved in such discussions, the official added.

The talks are taking place just as President Trump is preparing to host Indian Prime Minister Narendra Modi for a meeting in Washington later this week.

India and other buyers in Asia are looking to secure more energy deals with the U.S. to avoid the tariff spree of the new U.S. administration.

GAIL India, the biggest natural gas distributor in the country, is reviving plans to procure U.S. LNG supply in the long term by either buying a stake in an American export project or signing a long-term offtake agreement, a top company official told Reuters earlier this week.

By Tsvetana Paraskova for Oilprice.com

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