India is seeking investment in its power plants from Qatar in return for long-term LNG supply contracts commitment.
With a number of countries seeking flexible LNG supply contract terms, India has put a proposal on the table to Qatar to grab a stake in India’s power plants.
Speaking to Reuters, India’s oil and natural gas minister Dharmendra Pradhan said, Qatar has been invited to deal with stranded power plants in India as it seeks new solutions.
Pradhan added that Qatar would also share the profit of those power plants, but would also be granted stakes in local oil and gas companies or LNG terminals.
India’s gas-fueled power plants have been forced to either shut down or operate at lower rates due to natural gas shortages.
The country is moving towards the natural gas-based economy and is looking to up its LNG import capabilities from the current 21 million tons per year up to 50 mtpa.
LNG World News Staff