Indian billionaire Sajjan Jindal’s steel-to-power JSW Group is reportedly planning to invest in liquefied natural gas (LNG).
JSW is aiming to invest into an LNG regasification plant, according to a report by India’s Business Standard.
The move comes days after India, the world’s fourth-largest buyer of LNG, had announced plans to halve its basic customs duty on imports of the chilled fuel.
To remind, the country’s Finance Minister Arun Jaitley proposed last week to reduce the basics customs duty on LNG from current 5 percent to 2.5 percent as part of the plans to shift to a natural gas-based economy.
LNG World News contacted JSW Group for a comment. We will update the article once we receive a response.
India’s LNG imports have been rising steadily in the last 12 months after the country’s largest importer, Petronet LNG signed a revised long-term contract with Qatari LNG producer RasGas.
India currently imports LNG via Petronet’s Dahej and Kochi LNG terminals, Shell’s Hazira plant, and the Dabhol terminal operated by Ratnagiri Gas and Power.
LNG World News Staff