US, India Discuss Expanding Coal Trade At Goa Energy Summit

Economic

Summary:

US and India are in talks to boost the trade of coal, a fuel both nations consider key to energy security.

US and India are in talks to boost the trade of coal, a fuel both nations consider key to energy security, their officials said Thursday.

The two nations recently held a bilateral discussion over coal, India's coal secretary Vikram Dev Dutt said at the India Energy Week in Goa. India can tap into US technology for coal gasification, carbon capture as well as critical minerals, while India would benefit from more supplies of metallurgical coal from the US, Dutt said. "It can be a win-win for both countries."

Kyle Haustveit, assistant secretary for hydrocarbons and geothermal energy at the US department of Energy, echoed the sentiment. "The US Wants to continue to deepen our partnership," Haustveit, who shared the stage with Dutt, said. "We want to export more coal."

India relies on imports for more than 90% of its metallurgical coal supplies for use in steel mills. The US accounts for just about a tenth of those imports.

Source: Bloomberg Europe

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US, India Discuss Expanding Coal Trade At Goa Energy Summit

Source: Bloomberg Europe

Risk Disclosure