Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan today held a meeting with Australian Minister for Resources and Northern Australia, Senator the Hon. Matthew Canavan. Both Ministers stressed on the importance of energy and resources in the bilateral relationship, and agreed to expand the scope of cooperation given that India offers a large energy market and Australia is rich in natural resources particularly coal and LNG, apart from Uranium. Pradhan mentioned that India is already an importer of LNG from Australia. Given India's major initiatives to move into a gas-based economy, there is significant scope for expanding LNG imports from Australia. He also mentioned that Indian consumer is price sensitive, and therefore affordability of LNG imports from Australia will be an important factor in enhancing cooperation in this area. Minister Canavan underlined Australia's commitment to expand its ties with India, and highlighted its position as a reliable partner in meeting India's energy security needs. Shri Pradhan called for greater investment flow from Australia to India and sharing of best practices.
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