India makes strong pitch for export of Shale Gas in liquified form from USA

New Delhi, May 16 (PTI) Energy-deficient India has made a strong pitch for export of Shale Gas in liquified form from the United States which has been pressurising it to reduce import of oil from sanction-hit Iran. The Indian request Tuesday comes in the backdrop of Petroleum Ministry's decision to cut crude oil import from Iran by over 11 per cent during the current 2012-13 fiscal (April-March) to 15.5 million tonnes, apparently succumbing to the US pressure. During a meeting between a US delegation led by Carlos Pascual, Special Envoy and Coordinator for International Energy Affairs in the US State Department, and a composite Indian delegation led by Jawed Ashraf, Joint Secretary, Ministry of External Affairs, the Americans made a detailed and expansive presentation on oil and gas markets including the impact of LNG and of Shale Gas on integration of gas markets. Official sources said this included demand, supply, and consumption pattern projections of discoveries off the cost of East Africa. On its part, "India explained the long-term projections of its energy needs including key suppliers of oil and natural gas and possible external energy sources" in Africa, North America and Southeast Asia, the sources said. India is currently importing crude oil from 30 countries spread across different continents. "Incentives being provided on renewable energy sources were also detailed and in the context of these discussions, the possibility of export of Shale Gas in liquefied form from the US to India was also raised," the sources said, adding "it is expected that the US will positively consider this." Earlier in the day, Minister of State for Petroleum and Natural Gas R P N Singh, in a written reply to a question in Rajya Sabha, upper house of India's Parliament, said India has decided to cut crude oil import from Iran by over 11 per cent this fiscal to 15.5 million tonnes. India, which imports 80 per cent of its crude oil and relies on Tehran for 12 per cent of those imports, shipped 17.44 million tonnes of oil from Iran during fiscal 2011-12, he said. The US has been pressurising India to restrict its economic ties and reduce import of crude oil from Iran, reiteration of which was made by Secretary of State Hillary Clinton during her meetings with Indian leadership during her recent visit here. The Indian delegation also included officials from the Ministries of Petroleum and Natural Gas, New and Renewable Energy Resources, Power, as also Planning Commission. Pascaul is also expected to visit Mumbai for talks with India's state-owned oil major ONGC and financial institutions. PTI