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Rise in United States LNG production to benefit India, CEO of Petronet LNG states

An increase in LNG production in the United States after President Donald Trump ended a moratorium on brand-new export permits ought to benefit consuming nations like India, the president of the country's leading gas importer stated on Monday.

Trump last week bought the U.S. Energy Department to resume the consideration of LNG export applications after the Biden administration froze them.

If more LNG plants come in the U.S., it will stabilise global LNG rates, Petronet LNG President Akshay Kumar Singh said in a post incomes media call.

For a consuming nation (like India), it is expected that if prices remain in the variety of $7 to $8 per million British thermal units (mmBtu), the intake will drastically enhance because there is no lack of consumers, they are just cost sensitive, Singh stated.

Singh expects LNG prices to hover around $12-$ 14 per mmBtu in the current quarter on strong demand from Europe.

European gas reserves are some 17 billion cubic metres (bcm). lower than at the same time in 2024, according to ICIS analyst. Alex Froley.

The additional volumes required to refill them could also. keep costs raised in the second quarter of the year, Singh. stated.

He likewise said Petronet is working to start products of LNG to. neighbouring Sri Lanka, after signing an offer to supply LNG. engineering company LTL Holdings' power plants in Colombo for five. years through a terminal in the southern Indian city of Kochi.

(source: Reuters)