India's Petronet aims to extend long-term LNG buy deal with Qatar
India's top gas importer Petronet LNG hopes to extend its long-term deal to purchase LNG from Qatar to beyond 2028, the company's head of finance V.K. Mishra said.
Petronet has a deal to buy 7.5 MMtpy of LNG from Qatar under a long-term deal expiring in 2028.
"It is a good contract and perhaps we will be able to negotiate with them," Mishra told an analyst conference after the June quarter earnings of the company.
He said negotiations for the extension of the contract under new terms and conditions will begin in 2023.
India's gas demand is set to rise as Prime Minister Narendra Modi targets raising the share of the cleaner fuel in the country's energy mix to 15% by 2030 from the current 6.2%.
Indian companies are investing billions of dollars to build infrastructure including pipelines and gas import terminals.
Petronet, which operates two LNG import terminals in the country, plans to build a third such facility on the east coast.
Mishra said his firm is conducting gas demand assessment ahead of placing construction orders for the project next year.

- Biogas in France: TotalEnergies starts its 2nd largest unit in Normandy
- ONEOK announces joint ventures with MPLX to build LPG export terminal at U.S. Gulf Coast location
- Ukraine plans to import 800 MMm3 of gas until April after Russian strikes
- Parker Hannifin joins iHAPC project to test H2 and argon for cleaner and more energy-efficient engine technologies
- India's BPCL signs LPG supply deal with Norway's Equinor
Comments