Asian countries seek to purchase more energy from US to offset trade imbalance

Asian countries seek to purchase more energy from the US in an attempt to reduce their trade surplus with Washington and ease the impact of Donald Trump’s duties, Reuters reports. 

Indonesia intends to boost its imports of US liquefied petroleum gas and oil by around $10 billion as part of the tariff negotiations, energy minister Bahlil Lahadalia says. 

India considers removing its import tax on American liquefied natural gas (LNG). GAIL India Ltd, the country's largest LNG importer, has issued a tender to buy a stake of up to 26% in a project to produce LNG in the US, Reuters reports.

Thailand plans another contract to buy over 1 million tons of US LNG during the next five years, in addition to its existing 15-year plan to import 15 million tons starting 2026.

Besides, Trump wants Taiwan, South Korea, and Japan to join an export project aimed at transporting natural gas from northern Alaska. Gas will be delivered by pipeline as LNG to these countries, bypassing the Panama Canal, Reuters says.