As India looks to increase its energy trade with the US amid trade pact negotiations, Indian public sector refiners have signed a one-year deal for American liquefied petroleum gas (LPG) imports, marking the first structured contract of US LPG for the domestic market. ARTICLE CONTINUES BELOW VIDEO

The term deal, which Petroleum Minister Hardeep Singh Puri called a “historic first”, is for imports of around 2.2 million tonnes per annum (MTPA) of LPG, close to 10% of India’s annual imports.

It comes at a time when India is looking to shrink its trade surplus with the US — one of the issues flagged by President Donald Trump when he slapped the 50 per cent tariff on incoming Indian goods. Government data released Monday showed that India’s trade surplus with the US had halved to $1.45 bil

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