India exploring Australian gas supplies for clean, affordable power: Piyush Goyal

Brisbane, Feb 08 (ANI): Union Minister of State (Independent Charge) for Power, Coal, New and Renewable Energy Piyush Goyal on Monday said that the Government of India is willing to consider long term fixed price contracts with Australia for the supply of gas which will enable power producer to enter into a power supply contract at an affordable price. Goyal is leading a delegation for the 3rd India-Australia Energy Security dialogue in Australia.While addressing a roundtable in Brisbane earlier today on the business opportunities for LNG (Liquefied Natural Gas) and Coal Bed Methane, Goyal stated that additionally, opportunities to control the entire value chain right from gas production, liquefaction, shipping, re-gasification and power generation can be evaluated at the current historic low prices of many of these activities. He also stressed that since coal based power is available in India at less than 5 cents per unit, the LNG providers should consider supplying gas to India at a price that is comparable.