Qatar agrees to supply 4 MT additional gas to India

New Delhi, Mar 21 (PTI) In a major development, Qatar
Sunday agreed to supply India up to 4 million tons of
additional LNG to meet its growing energy needs.

The world's largest Liquid Natural Gas exporter will
begin with one million ton of supplies in 2011 and ramp it up
to 4 million tons by 2014.
"These will be 15-20 year contracts," Qatar's Energy
Minister Abdullah al-Attiyah told reporters after an hour long
meeting with Petroleum Minister Murli Deora.
"India is on top of my agenda. We are always committed to
meeting India's needs," he said.
India currently imports 7.5 million tons of LNG every
year from Qatar's RasGas under a long-term deal. The
additional fuel would be imported at Petronet LNG Ltd's
under-construction Kochi LNG terminal and almost ready Dabhol
receiving facility on the western coast.
Qatar is having surplus LNG after its principal importers
US and Europe cut imports.
"These are cargoes that are being diverted from US and
Europe (who have cut imports on falling demand)," he said.
But there were sharp differences on price. Qatar is seeking a
price of 13.5-15.5 per cent of JCC (Japanese Crude Cocktail)
while New Delhi was looking for a fixed price, like the
previous sweetheart deal. (MORE) PTI ANZ
KAB


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