Shares of Gujarat Gas Ltd. increased by as much as 1.3% after brokerage house Citi initiated coverage on the stock with a ‘Buy’ rating.
According to Reuters, the Indian Transport Minister has said that the country is aiming to reduce its oil products imports to zero, in favour of alternative fuels.
H-Energy is to begin importing LNG from Q3 2018 via a ship-based terminal leased from French group Engie.
India's Torrent Power has given notice to potential LNG suppliers that it wants to buy nine cargoes for delivery in 2018.
India has not ruled out the possibility of joining China, Japan and Korea to jointly buy LNG as part of efforts to extract better deals.
More Asian LNG buyers are trying to avoid taking the US supplies they signed up for just a few years ago in order to cut shipping costs.