Petronet holds discussions with Qatar to secure long term LNG imports

New Delhi: Petronet LNG Ltd, India's largest gas importer, is holding discussions with Qatar to secure some US-sourced LNG from 2028, Group General Manager Vivek Mittal said during an analyst call on Tuesday.

Qatar currently supplies Petronet with 7.5 million metric tons of LNG annually. The existing agreement, due to expire in April 2028, has been extended for another 20 years until 2048.

Mittal said Qatar had shown willingness to consider India's request and could allocate part of the contracted volumes from other sources secured by the Gulf nation.

QatarEnergy has strengthened its access to US gas supplies through a 20-year agreement with Woodside for three million tonnes annually from 2030. It has also signed agreements with Cheniere Energy for up to four million tonnes annually through 2054.

QatarEnergy declared force majeure on LNG supplies in March after the Iran war disrupted shipping through the Strait of Hormuz and attacks damaged its Ras Laffan facilities. The declaration currently extends through December.

The crisis has prompted India to diversify LNG procurement, increasing its focus on supplies from the US, Oman, Nigeria, Angola and Australia. Petronet has also suspended time-charter agreements for three LNG tankers following the disruption in Qatari supplies.