Indian Gas Demand to Surge

Global Oil Majors See Surge In Indian Demand for Natural Gas (Reuters)
Nidhi Verma and Promit Mukherjee (Oct. 14): Global oil and gas majors are looking to India to buy some of their excess LNG as the South Asian nation improves its gas infrastructure and strives to reduce emissions. India is investing $60B in gas infrastructure, including cross-country pipelines and LNG import terminals to connect gas-starved regions to supply hubs. Oil Minister Dharmendra Pradhan has said that by 2024, India will be ready with a cross-country natural gas grid. Peter Clarke, ExxonMobil SVP: “India is emerging as a major demand center for gas… We see India as an important energy market for decades to come.” Exxon signed a MOU with India’s biggest state-owned oil refining company Indian Oil Corp. on Mon. (Oct. 14) to explore “new models of delivering cost-effective natural gas in India.” Also on Mon. (Oct. 14), Total said it was buying a 37.4% stake in private gas distribution company Adani Gas and that it would explore opportunities in Adani Group’s LNG terminals in the east and west coast. Total CEO Patrick Pouyanne: “We want to bring competitive LNG to India.” … Total has committed to investing $600 million in India’s gas business and “there is more to come.”

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