Petronet LNG of India is in talks with Qatar to buy additional 2-3 million mt of LNG per annum, Reuters reported, citing the company’s CEO A.K. Balyan.
“ We are in negotiations for a long-term contract… We are talking to Qatar for an additional 2-3 million tonnes a year ,” he said.
In July 1999, RasGas of Qatar signed a sales and purchase agreement with Petronet to supply 5 Mtpa to India’s first operational LNG terminal, at Dahej in Gujarat.
RasGas and Petronet amended the existing SPA in 2006 to implement the sale of 2.5 Mtpa, totalling a 7.5 Mtpa agreement.
Petronet is also looking at the possibility of acquiring a stake in LNG projects in Russia and Africa, Balyan said.
“ We have definite proposals to look at equity participation and access to resources, We are looking at them and it will take us a few months (to decide) …We do not have expertise in exploration so it will be a consortium approach in tie-up with other Indian companies, ” Balyan said.
[mappress]
LNG World News Staff, March 26, 2012; Image: Petronet LNG