India plans to increase its purchases of U.S. oil and LNG to reduce its trade surplus with the United States and potentially avoid the imposition of tariffs.

Indian Oil Corp is in talks with U.S. firm Cheniere Energy for a 15-year liquefied natural gas deal, with volumes between 1.5 million to 2 million metric tons per year, said a company source on Tuesday on the sidelines of the India Energy Week conference.

Indian Oil Corporation (IOC) has finalized a USD 7-9 billion agreement with ADNOC Gas for importing LNG from the UAE. This 14-year contract highlights growing energy collaborations between India and UAE,

ADNOC Gas has signed a 14-year agreement to supply up to 1.2 million tonnes per annum of LNG to Indian Oil, valued at between $7 billion and $9 billion.

French oil major TotalEnergies has signed a deal to supply the Gujarat State Petroleum Corporation with 400,000 metric tons of liquefied natural gas annually, beginning next year, the companies said on Wednesday.

India's top importers of liquefied natural gas are holding talks to buy more fuel from U.S. suppliers, ahead of Prime Minister Modi’s expected meeting with President Trump this week, Bloomberg reported Monday.

The deal formalises a previous Heads of Agreement between the two companies and strengthens the long-standing energy partnership between the UAE and India.

The bulk of India's LNG imports under long term deals is supplied by Qatar, with prices linked to crude oil. India's gas sourcing portfolio should have a mix of both U.S. Henry Hub and crude oil linked prices, Jain said.