India Eyes US Natural Gas Abundance

A surge in shale gas output in the U.S. has driven down prices in the U.S. and prompted companies to convert LNG import facilities for export. GAIL India Ltd. is to become the first Asian company to buy liquefied natural gas from the US. “We’re looking to get LNG from the U.S. because prices there are cheap. And it is affordable enough to transport it all the way to India,” says P.K. Jain, finance director at GAIL.

Bloomberg: Lowest U.S. Gas Price Since 1999 Attracts GAIL