India plans to raise coal imports from US, move to deepen bilateral energy partnership
Wednesday, February 26th, 2020
Given India’s plan to raise domestic steel output from the current level of 140 million tonne (MT) to 300 MT by 2030, the requirement of coking coal is seen to rise 190% to 175 MT. American oil supplies to India have jumped ten-fold to 2,50,000 barrels per day (bpd) in the last two-three years. Speaking at a business meeting alongside US President Donald Trump, US energy secretary Dan Brouillette said India imported just 25,000 barrels a day of crude oil from the United States in 2017.
Australia is the country’s largest coking coal supplier, with supplies of $7.4 billion — 72% of India’s coking coal import by value — of the metallurgical fuel in FY19. In FY19, India imported 4.1 MT of coking coal from the US, worth $850 million. India is already US’ fourth largest crude oil export destination and the fifth largest importer of US LNG.