PTI
India is likely to sign on Tuesday a multi-billion dollar deal to extend import of 7.5 million tonne of LNG per year from Qatar for another 20 years beyond 2028 at rates that are lower than current prices, sources said.
Petronet LNG Ltd will sign the deal to extend import contract with Qatar Energy on sidelines of India Energy Week here. Sources said the renewal is at a “significantly” lower price than the current deal. At current prices, India will save about USD 0.8 per million British thermal unit at the renewed terms.
Petronet imports 8.5 million tonne per year (MTPA) of LNG from Qatar under two contracts. The first 25-year deal is to expire in 2028 and is now being extended for 20 additional years. The second deal for 1 MTPA entered into in 2015, will be negotiated separately, sources said.
