India Reiterates Idea of Asian LNG Buyers Group

Asian LNG buyers should come together to demand fair price for LNG imported from outside Asia, Indian Prime Minister Manmohan Singh said during a function to dedicate to the nation Petronet’s LNG terminal at Kochi.

The five-million-tonne capacity LNG terminal has been operational since last four months.

India should contribute towards an effort to form a buyers group, as Asia has been the driver of global LNG demand in recent times, Business Line newspaper quoted Singh as saying.

In September last year, India and Japan signed a joint statement to study LNG pricing in the Asia Pacific region. 

The Prime Minster added that to augment supply of natural gas in India’s energy mix, the country must necessarily import it either by setting up LNG terminals or through trans-national pipelines, Business Line reported.

“Import of natural gas and pricing the imported gas constitute challenges that we must meet successfully in the time to come,” Singh said.

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