New Delhi, May 13 -- As India and the US negotiate a trade deal, chairman and managing director of state-run gas utility GAIL Ltd Sandeep Kumar Gupta said that there is potential for import of more liquefied natural gas (LNG) from America and increase its share in India's energy basket.

Addressing the media on Tuesday, Gupta said that at current prices, import of natural gas from the US "makes good sense". Currently, the spot price of natural gas at Henry Hub, US, is around $3.4 per MMBtu (Million British Thermal Units). Gupta said that prices are expected to remain in a range of $3.5-4 per MMBtu in the near term.

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Henry Hub serves a...