Why is it in the news?
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India’s Petronet signed an MoU for Indian investment of $ 2.5-billion LNG supply from the US for four decades.
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Petronet LNG Ltd is India’s biggest liquefied natural gas importer.
More in the news
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The Petronet would buy a stake in Tellurian Inc’s proposed Driftwood project in Louisiana and import 5 million tonnes a year of LNG.
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Currently, India consumes approximately 175 million standard cubic metres a day (mmscmd) of gas.
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The demand in gas sector is directly linked to supply.
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Today, almost 50 per cent of the consumption requirement is met through imported gas.
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India is targeting to raise share of natural gas in its energy basket to 15 percent by 2030 from 6.2 percent currently.
Source
The Hindu.