India could join Asian nations in procuring LNG: oil minister

India's Oil Minister Dharmendra Pradhan speaks on phone during an interview with Reuters in New Delhi, India, May 5, 2016. To match Interview INDIA-ENERGY/ REUTERS/Adnan Abidi

NEW DELHI (Reuters) - India does not rule out the possibility of joining China, Japan and Korea to jointly buy liquefied natural gas (LNG) as part of efforts to extract better deals, Oil Minister Dharmendra Pradhan said on Friday.

Pradhan said the market was gradually becoming more consumer-centric.

The world’s biggest liquefied natural gas (LNG) buyers, all in Asia, are clubbing together to secure more flexible supply contracts in a move which shifts power to importers from producers as oversupply grows.

Reporting by Neha Dasgupta and Nidhi Verma; Editing by Malini Menon