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Govt seeks LNG imports from Australia

India has decided to expand its relationship with Australia by seeking to import liquefied natural gas from Australia, reports Deepak Joshi.

business Updated: Nov 16, 2007 22:19 IST
Deepak Joshi

The Government has begun renewed efforts to secure gas supplies from diversified overseas sources to meet its growing requirements.

Though the recent gas finds in the Krishna-Godavari basin are expected to boost domestic production of natural gas, the demand of core sectors - power and fertilisers - have made it imperative to diversify the risk factor of supplies to a larger number of countries.

India has decided to expand its relationship with Australia by seeking to import liquefied natural gas (LNG) from that country. Petroleum ministry sources said that the Australia-India Joint Working Group has decided to set up an Australia-India Strategic Research Fund to promote scientific and technological cooperation in various sectors, including hydrocarbons.

A number of Indian companies, including PSUs, are also exploring the possibility of buying coal-mining rights in Australia.

"The supply of LNG from Australia is very critical for us. This could also help India meet the needs that arise out of the expansion programme outlined during the 11th Plan for LNG infrastructure," a senior official stated.