India Energy Week: Qatar Targets Major LNG Growth Market India With Sales Blitz - Bloomberg
Qatar is pushing to sell more liquefied natural gas to India, where imports of the super-chilled fuel are expected to double by the end of the decade.
The Persian Gulf producer will hold high-level talks with Gail India Ltd. and Indian Oil Corp. during India Energy Week in Goa, according to traders with knowledge of the discussions.
Qatar will also extend a long-term supply contract with Petronet LNG Ltd., set to expire in 2028, on Tuesday, said officials aware of the development. The renewal will be for 7.5 million tons of LNG a year and will have Qatar cover shipping costs, a term not included in the current contract, they said.
Indian buyers are demanding rates that are below previous deals that Qatar has signed in the last few years, the traders said. Saad Sherida Al-Kaabi, Qatar’s energy minister, is scheduled to attend negotiations for contracts that could last decades, they said.
Qatar, the world’s third-biggest LNG exporter, and India are under pressure to sign long-term deals. The Middle Eastern nation’s massive gas expansion project — which will lift exports by about two-thirds through 2027 — is in need of customers, with only about half sold so far, according to BloombergNEF.
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