Indo-US energy trade to touch $10 billion in FY20: Pradhan

Indo-US energy trade to touch $10 billion in FY20: Pradhan

India”s energy trade with the US is likely to touch $10 billion in financial year 2019-20, with the country having increased its import of crude oil, LNG and coking coal, said Union Petroleum Minister Dharmendra Pradhan on Monday.

Last year, the bilateral energy trade valuation stood at $7 billion.

“In 2018-19, our energy trade size is $7 billion with the US. It is increasing this year, as we are importing crude oil, LNG, coal, especially the special category of coal. Our energy bridge is very robust with the world community and America is an important destination,” Pradhan told reporters on the sidelines of the India-US Strategic Partnership Summit.

The Minister said supplies from the US had helped control a likely price rise in India after supply shortage concerns gripped the market in the aftermath of the attacks on a Saudi Aramco”s facility. Read More

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