India's top gas importer sets eyes on US LNG under long-term deal with Qatar
- Qatar is open to supplying India with US-sourced LNG as part of their long-term deal, boosting India's energy security
NEW DELHI: Qatar is willing to consider India’s request to include US-sourced LNG under its renewed supply deal, helping New Delhi diversify its imports following disruptions caused by the Iran war, a senior Petronet LNG executive said on Tuesday.
India’s top gas importer Petronet LNG Ltd is in talks with Qatar to source some LNG from the US under its long-term contract from 2028, Petronet’s group general manager Vivek Mittal said during an analyst call.
Qatar, India’s largest LNG supplier, currently has a contract to supply Petronet with 7.5 million metric tons of the fuel annually. The deal, which expires in April 2028, has been renewed for another 20 years until 2048, and Qatar would supply cargoes on a delivered basis.
“Definitely we have had some discussion with Qatar to diversify supply under the renewed contract, which will start in 2028,” Mittal said, in response to a question on whether India is seeking US LNG under the long-term deal with Qatar.
QatarEnergy secures 20-year US LNG supply from Woodside amid Hormuz blockade
Qatar is willing to consider the Indian company’s request and could offer “certain portion of volume from other sources which they have tied up,” Mittal said.
QatarEnergy last month signed a 20-year agreement to buy 3 million metric tons per year from Woodside’s US facilities, with deliveries expected to start in 2030. It also signed two agreements with Cheniere Energy for up to 4 million tons per year through 2054 from its Sabine Pass and Corpus Christi plants.
QatarEnergy declared force majeure on LNG supplies in March after the Iran war led to the blockade of the Strait of Hormuz and attacks on its Ras Laffan facilities. The force majeure runs through December for now.
The Middle East crisis has prompted India to seek alternative supplies, with purchases of super-chilled gas from countries spanning the US, Oman, Nigeria, Angola and Australia.
Petronet has also suspended time charter agreements for three LNG tankers due to the force majeure on Qatari supplies.