Mr. Pradhan had a meeting with the Japanese Trade Minister Hiroshige Seko, where they discussed possibilities for a joint venture energy projects in Asia and Africa.
Last October, India signing of an agreement with Japan to make gas supplies more diverse, improve energy security and achieve more competitive prices.
The two Ministers also discussed about the abolition of the destination restriction clause & reliable LNG spot price to achieve destination flexibility and cargo swapping between India & Japan.
Japan and India are now pushing to achieve more flexible supply contracts. Their aims is to make suppliers like Qatar and Australia move into fixed long-term supply contracts and make buyers receive fixed amounts on monthly volumes irrespective of demand, local media reported.
Furthermore, India's Oil Minister and the Japanese Minister talked about technical collaborations, technology transfers, increased investments and greater cooperation, aiming to optimize India’s Skill ecosystem.
This week, H-Energy launched India’s first floating LNG Terminal at JSW Jaigarh Port LNG terminal, to enable the development of local port-based industries. H-Energy’s LNG Terminal will have an annual capacity of 4 million metric tonnes per annum (MMTPA).
The terminal is expected to start commercial operations by the end of 2018 and will be capable of reloading LNG into other vessels. The launch of India’s first LNG terminal will increase the opportunities for port based industries and social infrastructure in India.