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.

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.