Qatar to increase LNG supply to India
India would get additional quantity of liquefied natural gas (LNG) from Qatar in the first six months of 2009. The country is likely to get six cargoes from February this year.
The Oil minister of Qatar, Abdullah bin Hamad al-Attiyah said that his country would supply 7.5 million metric tons of gas per year instead of 5mn tons a year, it is currently offering.
Mr. Abdullah was addressing reporters in the sidelines of the Petrotech 2009 conference held in the capital. He added, "India is our single largest customer. Last year, we had sold extra cargoes (beyond the long-term contract) and this year we will attempt to send more."
Meanwhile, Indian government may offer 10 per cent stakes in Petronet LNG Ltd. Petronet LNG Ltd is the biggest buyer of LNG.
It should be recalled that Prime Minister Manmohan Singh visited the gulf nation in November 2008 and lobbied for additional supply of LNG for India on a long-term contract. He was assured by authorities to increase LNG supply from February.
India mainly depends on LNG import as it has not sufficient gas reserves in its geographical area. The recent announcement by Qatar minister to provide additional gas would help to address the growing needs of Indian energy sector.