Lower spot LNG may push India's top gas importer to renegotiate deals - Reuters:
India’s top gas importer Petronet LNG will consider renogiating its long-term supply deals to secure lower liquefied natural gas (LNG) prices if spot prices remain weak for two to three years, its managing director said on Thursday.
An inexorable decline in spot market prices for LNG is driving some buyers in Japan and China to request delays in term cargoes, while others are looking to lift lower volumes under their term contracts from LNG sellers.
“There is no doubt. We have to be sensitive to the international market. If spot prices continue to be low for 2-3 years then you don’t have much of a choice, and there would be a case to look at renegotiation,” Prabhat Singh told Reuters.
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