Washington: Energy-ridden India with a whopping investment of $4 billion in US’ tight oil and shale gas sectors from 2008 to 2012, has strongly advocated the export of American natural gas to it, saying it presented a “win-win” co-operation opportunity for both nations.
“As shale gas has become economically viable to produce, the US has emerged as one of the world’s most important gas producing countries,” expressed Indian Ambassador to the US Nirupama Rao.
Rao strongly advocated the case for export of US natural gas to India. “The potential of exports of natural gas from the US, on account of its linkage to the Henry Hub (HH) prices, would imply considerable savings in terms of landed costs in a country like India. We estimate that these savings would be in the range of USD 4-5 per million metric British Thermal Units (mmbtu),” Rao said.
EPC World News Bureau
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