India not looking to adjust LNG import deal with Qatar

India not looking to adjust LNG import deal with QatarKochi LNG Terminal (Image courtesy of Petronet LNG)

No changes will be made to the 8.5 mtpa LNG supply deal India’s Petronet LNG has in place with Qatar’s RasGas.

There are no proposals on the table to sign a new contract with Qatar, Platts reports citing an oil ministry official.

Petronet LNG, India’s largest importer of liquefied natural gas, initially signed the import deal with RasGas in 1999 for the delivery of 7.5 million tons of the chilled fuel per year.

The deal has been reworked in January 2016, which will see RasGas delivering 8.5 mtpa to India for a period of 12 years. The first cargo under the revised deal was delivered on January 13, 2016.

It was reported in June that India is inviting Qatar to invest in the country’s power generation infrastructure in return for a long-term commitment to importing Qatari LNG.

India’s import capacity is expected to reach up to 50 million tons per year, from the 21 mtpa it currently has in operation, as it moves towards the natural gas-based economy.

Petronet LNG operates two LNG import terminals with a combined capacity of 20 mtpa. According to the company’s latest quarterly report, both facilities recorded highest ever throughput, reaching 192 trillion British thermal units (tBtu) combined.

The Dahej LNG terminal processed 184 tBtu of LNG, operating at 97 percent of its average increased nameplate capacity, with the Kochi LNG terminal processing 8tBtu of liquefied natural gas during the second quarter.

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