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Qatar to raise LNG supplies

business Updated: Mar 22, 2010 21:03 IST
HT Correspondent
HT Correspondent
Hindustan Times
liquefied natural gas

The world’s largest producer and exporter of liquefied natural gas (LNG), Qatar, will export an additional 4 million tonnes of LNG per year to India by 2013. The increase in supplies will help core sector industries, including power and fertilisers.

“The proposal is for the supply of 0.3 million tonnes of LNG this year, 0.5 million tonnes in 2011, 2.5 million tonnes in 2012 and 4 million tonnes from 2013,” Petroleum Secretary S. Sundareshan said on the sideline of 6th Asia Gas Partnership Summit in New Delhi on Monday. “This is subject to price negotiations which we will enter now.”

At present, Qatar accounts for most of India's LNG imports and sells 7.5 million tonnes of LNG every year to India.

Qatar Deputy Premier and Energy Minister Abdullah Bin Hamad Al-Attiyah said Qatar’s Rasgas will talk to Petronet LNG and GAIL (India) and hoped that agreements will be signed soon.

Al-Attiyah said his country is also looking at investing in downstream gas projects. “We are also keen to jointly bid with Indian companies for projects in third countries,” he said.

Petroleum ministry sources said Qatar was asking a price that is linked to international crude oil rates at $80 per barrel that comes to over $10 per unit (Rs 460 per unit). This is more than double the existing rate of $4.2 per unit (Rs 193 per unit) at which Reliance Industries is selling gas produced from its KG D6 gas block.