QatarEnergy has struck a 20-year LNG Sale and Purchase Agreement (SPA) with Petronet LNG for the supply of 7.5 million tons per annum (MTPA) of LNG to India from May 2028.
The long-term contract underlines the primacy of energy security amid heightened geopolitical tensions, and further evidence of LNG’s long-term appeal, despite mounting sustainability scrutiny following the US LNG export approval pause (click here).
The length of the agreement allowed India to negotiate better prices, according to sources.
In neat symmetry, the 20-year deal follows the recent 20th anniversary of the inaugural LNG shipment from Qatar to Petronet’s LNG Dahej Terminal, as both countries look to cement relations for another two decades. Currently Qatar accounts for around 35% of India’s LNG imports.
... to continue reading you must be subscribed
