Global Arab Network | Qatar to sell additional LNG gas to India

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Qatar to sell additional LNG gas to India

Global Arab Network - - Rabih Serrai

Wednesday, 24 March 2010 01:26

Qatar has announced that agreed to supply additional liquified natural gas (LNG) to India, but the price is yet to be decided, reported the Press Trust of India.

Qatar Deputy Premier and Energy Minister, Abdullah Bin Hamad al-Attiyah, who is visiting India, announced the agreement to supply gas to India in New Delhi, after holding discussions in this regard with Indias Petroleum Minister Murli Deora last evening.

"RasGas of Qatar and Petronet LNG/ GAIL (Gas Authority of India Limited) India will engage in discussions on pricing and I hope in the next few weeks they can finalise agreements. The supplies would be long-term, typically 15-20 years," the report quoted the Qatars Deputy Premier as saying.

Confirming the India-Qatar Gas Agreement, Indias Petroleum Secretary S. Sundareshan said: "The proposal is for supply of 0.3 million tonnes of LNG this year, 0.5 million tonnes in 2011, 2.5 million tonnes in 2012 and four million tonnes from 2013. This is, of course, subject to price negotiations which we will enter now." The agreement was committed on the sidelines of the two-day Sixth Asia Gas Partnership Summit, which began in New Delhi today to discuss major gas discoveries in India and the changing gas market across Asia.

The Summit, attened by at least 400 delegates and 47 speakers from as many as 11 countries, has been built around the theme - "Sourcing, Transmission and Distribution of Natural Gas: Challenges for Emerging Markets."
The latest agreement is for India to receive an additional 300,000 tons a year in 2010, 500,000 tons in 2011, 2.5 million tons in 2012 and 4 million tons by 2014. Petronet LNG currently has contracts to purchase 7.5 million tons of the fuel a year until 2028.
Qatar, the world’s biggest producer of LNG, is currently producing 62 million tons a year of LNG and may raise its output to 77 million tons by September after two more LNG trains, or units, start operations, Qatar’s Energy Minister Abdullah Hamad al-Attiyah said today.

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