.jpg)
1 hour ago
3
Article content
(Bloomberg) — The Trump administration wants to boost energy exports to India, the US ambassador in New Delhi said on Wednesday, ahead of a multi-day visit by Secretary of State Marco Rubio to the world’s most populous country.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
“India has been receptive to diversification, and what that means is buying more American energy,” Ambassador Sergio Gor said in a phone interview. “People have been very receptive to buying from the United States, and we’ve been very happy with that.”
Article content
Article content
Article content
India is struggling with an energy crisis caused by the nearly three-month-long war against Iran that the US and Israel launched in late February. In response, Iran effectively shut the Strait of Hormuz, a vital waterway for global energy flows — crimping supplies and sending Brent crude up more than 50% since the war started.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Asked about the pressure on India as a result of the war, Gor blamed Iran for closing the strait. “The blame is not on the United States,” he said, adding that the US Treasury Department has let India buy Russian oil that would otherwise be subject to sanctions.
Article content
India is a major energy importer. Before the war, India was heavily reliant on Hormuz for supplies of liquefied petroleum gas, used in cooking fuel, with about 90% of India’s LPG imports coming through the waterway.
Article content
New Delhi is set to import record amounts of LPG and liquefied natural gas from the US in May, according to predictive data from Kpler, underlining the importance of the US to the South Asian nation’s energy security.
Article content
“The US, as growing exporter of oil and LNG, will naturally have its sights on Asia and within the region, especially India and China,” Vandana Hari, founder of analysis firm Vanda Insights said. “Washington must see India as an easier market to penetrate and grow in.”
Article content
Article content
The State Department said Rubio’s trip will focus on energy security, trade and defense cooperation. Gor added the top US diplomat will also meet his counterparts from the Quad grouping that includes India, Japan and Australia.
Article content
He predicted that Trump will travel to India again, having made his first visit in 2020.
Article content
“The big thing that we want to showcase here is how vitally important this relationship is for both sides,” Gor said. Rubio’s trip is “an indication of the interest, and also the partnership that we have, that we want to grow.”
Article content
Gor said announcements will be made about the Quad, which is broadly seen as an effort to check China’s growing power in Asia. He wouldn’t provide details in order not to “preempt” the visit, but highlighted technology-sharing and growing military sales between the US and India.
Article content
The four-day trip to New Delhi, Kolkata, Agra and Jaipur — beginning on Saturday — is a departure for Rubio, who has tended to stay in countries for less time as he balances his role as the top US diplomat with being President Donald Trump’s National Security Advisor.
English (US)