Petronet Not Seeking Additional Qatar LNG Under Deal Renewal

By Nidhi Verma
Monday, October 30, 2023

India's top gas importer Petronet LNG is not seeking additional volumes when it renews its long-term liquefied natural gas (LNG) deal with Qatar, its head of finance V. K Mishra said on Monday on an analyst call.

Petronet has a 7.5-million metric ton per year (tpy) long-term LNG import deal with Qatar and its promoters Indian Oil Corp, Bharat Petroleum Corp and GAIL (India) Ltd has a 1 million tpy deal, Mishra said.

Petronet previously said that it would seek up to 1 million tons per annum of additional LNG when it renews its deal.

"We are going for renewal of the contract. Renewal means it will be of same quantity," Mishra said, without elaborating.

Indian companies have until the end of this year to negotiate with Qatar for renewal of the deals to beyond 2028.

Qatar, the world's top LNG exporter, aims to expand its liquefaction capacity to 126 million tpy by 2027 from 77 million and recently signed long-term deals with European majors Shell, TotalEnergies and ENI.

It has also signed long-term gas deals with China's Sinopec, China National Petroleum Corp and Bangladesh.

The CEO of Petronet LNG earlier in the day said he hoped negotiations between India and Qatar to extend their LNG import deals beyond 2028 would not be harmed by a diplomatic row between the countries.

The government in New Delhi said last week it was "deeply shocked" by a decision by a Qatar court to impose the death penalty on eight Indians arrested in the country last year, on charges that have not been made public.

Petronet LNG CEO A. K. Singh said, "We are in business. It (the diplomatic row) will be handled at the highest level of the country... we hope this does not have any impact on business relations."


(Reuters - Reporting by Nidhi Verma; Editing by Jan Harvey and Emelia Sithole-Matarise)

Categories: LNG Natural Gas

Related Stories

Japan’s JERA Agrees Long-Term LNG Supply from Middle East

QatarEnergy, Petronas Ink 20-Year LNG Supply Agreement

Australia and Timor-Leste Push to Advance Greater Sunrise Gas Field

ADNOC Gas Signs $3B LNG Supply Deal with India’s HPCL

Thailand's Gulf Energy Eyes Long-Term LNG Supply

ADNOC Takes FID on SARB Deep Gas Project Offshore Abu Dhabi

DOF Bags Two Deals in Asia-Pacific Region

Fugro Nets Mubadala Energy’s Deepwater Gas Job in Asia

Mubadala Energy, PLN Energy Primer Team Up for Andaman Sea Gas Supply

Venture Global, Tokyo Gas Ink 20-Year LNG Supply Deal

Current News

Saipem Agrees $272M Deal to Acquire Deep Value Driller Drillship

DUG Hooks Multi-Client Seismic Reprocessing Survey off Malaysia

MISC, PTSC Extend Ruby II FPSO Operations Offshore Vietnam

Petronas Takes Operatorship of Oman’s Offshore Block 18

Mubadala Hires SLB for Deepwater Drilling Services Offshore Indonesia

Malaysia Offers Nine Exploration Blocks in 2026 Bid Round

Seatrium Unit Launches Arbitration Against Petrobras over FPSO Contract

Transocean-Valaris Tie-Up to Create $17B Offshore Drilling Major with 73 Rigs

Malaysia Oil and Gas Projects Advance with Petronas' PSC and Farm-Out Deals

Vantage Drilling’s Ultra-Deepwater Drillship Heads to India Under $260M Contract

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com