An increase in US exports of LNG to India would see both countries benefit economically in a ‘win win’ situation, Indian diplomat Taranjit Singh Sandhu advised the Congress Subcommittee on Energy and Power. Addressing a seminar on the geopolitical implications and mutual benefits of US LNG exports, in which diplomats and energy experts from 10 nations were involved, Deputy Chief of Indian Mission Singh said: "For the US, it would help create thousands of jobs and an expanded revenue stream for the federal government. For India, it would provide a steady, reliable supply of clean energy."
He continued: "The prospect of increased Indian investments in the US natural gas market will push further a strong and mutually rewarding energy partnership as well further consolidate our strategic ties and deeper cooperation for the benefit of millions of people in both countries”.
The Committee Chairman Fred Upton noted that US natural gas was a popular option for many countries across the globe as it has the potential to balance out energy prices, heighten energy security, and improve competition. Upton said: "In addition to creating more jobs here in America, expanding US LNG exports presents the opportunity to strengthen ties with our global allies and reduce our trade deficit as well as shift the world's reliance away from unstable sources”.The countries participating in the forum advised the US to exercise “energy diplomacy” and approve export projects as soon as possible.
Although the US Department of Energy (DOE) has approved licenses at four LNG terminals to export LNG to European and Asia countries, 21 applications remain pending.
Energy and Power Subcommittee chairman Ed Whitfield stressed that the wealth of US energy sources rendered the country a potential world leader and would significantly enhance the domestic economy. “I look forward to continuing the dialogue on this important global issue," he said.
Edited from various sources by Ted Monroe
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/18102013/boost_in_us%C2%AC_lng_exports_to_india_would_see_win_win_economic_situation/