The Financial Express: India, Qatar Working to Tweak LNG Deal

India is in talks with Qatar’s RasGas Company to tweak a decade-old liquefied natural gas (LNG) procurement deal. Indian firm Petronet LNG has been forced to cut down gas volumes from Qatar after the fuel bought through this long-term contract became nearly twice as expensive than spot purchases.

“As the oil prices are coming down, we are asking them to relook at the pricing,” said a senior official at ministry of external affairs, requesting anonymity.

India’s petroleum minister Dharmendra Pradhan is scheduled to visit Doha to attend the 6th Asian Ministerial Energy Roundtable next week. Pradhan would discuss the Petronet-RasGas deal with Mohammed Saleh Al Sada, the minister of energy and industry of Qatar, the official said.

On October 19, Prabhat Singh, managing director and CEO of Petronet LNG said that the two firms are working out a solution. He, however, did not disclose whether India is re-negotiating the volumes or the price. “Let the nation win,” Singh added. MORE