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QatarEnergy and Petronet Sign 20-Year LNG Supply Deal for India

February 6, 2024

Credit: QatarEnergy
Credit: QatarEnergy

QatarEnergy has entered into a 20-year sale and purchase agreement with Petronet LNG for the supply of 7.5 million tons per annum (MTPA) of liquefied natural gas (LNG) destined to the Republic of India.

Pursuant the terms of the sale and purchase agreement (SPA), the contracted LNG volumes from Qatar will be delivered ex-ship to terminals across India onboard QatarEnergy’s vast LNG fleet starting May 2028.

Petronet first entered into an agreement for the supply of LNG from Qatar in 1999 for the delivery of 7.5 MTPA.

It was followed in 2015 by another agreement for the supply of an additional 1 MTPA of LNG, raising the total annual long-term volumes contracted between the two sides to 8.5 MTPA.

“This agreement is another key milestone in the long-standing energy partnership between Qatar and India and comes on the heels of the 20th anniversary of the first LNG shipment to India.

“We believe that this new agreement, with our valued customers Petronet LNG and its esteemed shareholder companies, will further strengthen the relationship with India and support its vision to increase the contribution of natural gas in its energy mix,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy.

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