India: Petronet Wants More LNG from Qatar

Petronet Wants More LNG from Qatar

 Petronet LNG of India is in talks with Qatar to buy additional 2-3 million mt of LNG per annum, Reuters reported, citing the company’s CEO A.K. Balyan.

We are in negotiations for a long-term contract… We are talking to Qatar for an additional 2-3 million tonnes a year,” he said.

In July 1999, RasGas of Qatar signed a sales and purchase agreement with Petronet to supply 5 Mtpa to India’s first operational LNG terminal, at Dahej in Gujarat.

RasGas and Petronet amended the existing SPA in 2006 to implement the sale of 2.5 Mtpa, totalling a 7.5 Mtpa agreement.

Petronet is also looking at the possibility of acquiring a stake in LNG projects in Russia and Africa, Balyan said.

We have definite proposals to look at equity participation and access to resources, We are looking at them and it will take us a few months (to decide) …We do not have expertise in exploration so it will be a consortium approach in tie-up with other Indian companies,” Balyan said.

[mappress]

LNG World News Staff, March 26, 2012; Image: Petronet LNG