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.

According to industry watchers, apart from securing more LNG for India’s growing natural gas consumption, higher energy imports from the US could signal a reduction in New Delhi’s trade surplus with Washington amid Donald Trump’s hard talk and tariff threats.

Buyers will hold meetings over the next few days as energy producers and purchasers gather for the India Energy Week conference in Delhi, said the people, who asked not to be identified discussing sensitive matters.

Indian oil companies are looking to buy U.S. liquefied natural gas (LNG), buoyed by the Trump administration's lifting of a ban on export permits for new projects, Oil Secretary Pankaj Jain said on Monday.

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.