Current Affairs Telugu Daily
First US shale gas reaches India; GAIL's Dabhol terminal receives cargo
India’s first liquefied natural gas (LNG) cargo from America landed at the Dabhol regasification terminal in Maharashtra.
This is part of a $32-billion supply deal for 20 years that GAIL signed with the Dominion Energy Cove Point project in Maryland and Cheniere Energy Inc’s Sabine Pass Project in Louisiana.
India’s trade with America is expected to see the large-scale import of LNG and crude oil in the coming years. Total bilateral trade (goods and services) between India and the US increased at a compound annual rate of 11.4 per cent from $20 billion in 2000 to $126.1 billion in 2017. GAIL alone would be procuring around $2 billion worth of LNG per annum from USA from 2018-19.
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