New Delhi: India has decided against fixing a limit on the amount of the liquefied natural gas (LNG) import business in the country, a government official said. "The Committee of Secretaries turned down the oil ministry's proposal for an embargo on fresh approvals from the Foreign Investment Promotion Board," the official added.In its LNG policy, the oil ministry had recommended that the number and size of import terminals be frozen, and approvals for new sites be denied since approved projects were sufficient to meet the country's natural gas demand.
India's natural gas supply is currently 64 million standard cubic metres per day (MSCMD) and its output is expected to peak at 85 MSCMD.
(Reuters)
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