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India Eyes More LNG Purchases From Australia in Cheap Energy Age

  • LNG prices have dropped 75% since 2014 amid global glut
  • ``Opportunities to control the entire value chain'': Goyal

India is exploring buying more liquefied natural gas from Australia under long-term sales agreements to take advantage of cheap energy.

“Opportunities to control the entire value chain right from gas production, liquefaction, shipping, re-gasification and power generation can be evaluated at the current historic low prices of many of these activities,” India’s Power Minister Piyush Goyal said in a statement. Goyal is visiting Brisbane for an India-Australia energy security meeting. Australia signed its first long term LNG sales agreement with India in 2009.