Qatar’s state-owned oil & gas giant QatarEnergy has signed off on a multi-year liquefied natural gas (LNG) supply agreement with India’s Gujarat State Petroleum Corporation (GSPC).
This 17-year sales and purchase agreement (SPA) with GSPC will enable QatarEnergy to supply up to 1 million tons per annum (mtpa) of LNG to the Republic of India, with the contracted LNG volumes to be delivered ex-ship to terminals in India, starting in 2026.
The SPA, which builds on the duo’s first long-term LNG supply agreement, signed in 2019, is said to reflect the continued confidence and trust between the two players, underscoring their shared vision for a sustainable energy future and the strengthening of bilateral cooperation.
Saad Sherida Al-Kaabi , Qatar’s Minister of State for Energy Affairs, President and CEO of QatarEnergy, commented: “We are delighted to extend our valued partnership with GSPC through this long-term SPA, which highlights our continued commitment to supporting India’s growing energy needs.
“This collaboration not only reinforces the enduring ties between our two companies but also contributes to India’s vision of enhancing its energy security and transitioning towards a cleaner energy mix. QatarEnergy remains committed to delivering safe and reliable LNG supplies to support India in its endeavors.”
The agreement is perceived to showcase QatarEnergy’s ongoing dedication to strengthening global partnerships, promoting cleaner energy solutions, and supporting the economic development goals of key markets worldwide.
This LNG offtake deal comes shortly after the Persian Gulf state’s giant began utilizing LNG storage and regasification capacity at a huge LNG terminal in the UK.