The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of the Memorandum of Cooperation (MoC) between India and Japan on establishing a liquid, flexible and global LNG Market.
The MoC will promote bilateral relationship between India and Japan in the energy sector. It will contribute to the diversification of gas supplies for India. This will strengthen our energy security and lead to more competitive prices for consumers.
The MoC provides a framework to cooperate in facilitating flexibility in LNG contracts, abolition of Destination Restriction Clause and also explore possibilities of cooperation in establishing reliable LNG spot price indices reflecting true LNG demand and supply. Read More…
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