India eyeing Natural Gas deal with US

India is expecting a deal by which the US will sell its LNG easing the norms on the compulsory Free Trade Agreement (FTA), according to a report by Hindu Businessline. Prime Minister Narendra Modi's proposed September visit to US will gain more importance in this regard.

At present, the US gas is available to only those countries with which it has a Free Trade Agreement (FTA) and India does not have an FTA with the US.

Though two projects in the US, where GAIL (India) has stake, have been given special permission for future sourcing, India would prefer complete waiver from the existing conditions. India’s confidence on getting the waiver emerges from a Bill recently introduced in the US Congress for speedy approval of export of natural gas to World Trade Organisation countries.

Since the US has a lot of natural gas to export and India would prove to be a big market, officials are hopeful that a deal could be on the anvil during Modi’s proposed visit.

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