India's top gas importer sets eyes on US LNG under long-term deal with Qatar

By Reuters News

By Nidhi Verma

- Qatar is willing to consider India's request to include US-sourced LNG under its renewed supply deal, helping New Delhi diversify its imports following disruptions caused by the Iran war, a senior Petronet LNG PLNG.NS executive said on Tuesday.

India's top gas importer Petronet LNG Ltd is in talks with Qatar to source some LNG from the US under its long-term contract from 2028, Petronet's group general manager Vivek Mittal said during an analyst call.

Qatar, India's largest LNG supplier, currently has a contract to supply Petronet with 7.5 million metric tons of the fuel annually. The deal, which expires in April 2028, has been renewed for another 20 years until 2048, and Qatar would supply cargoes on a delivered basis.

"Definitely we have had some discussion with Qatar to diversify supply under the renewed contract, which will start in 2028," Mittal said, in response to a question on whether India is seeking US LNG under the long-term deal with Qatar.

Qatar is willing to consider the Indian company's request and could offer "certain portion of volume from other sources which they have tied up," Mittal said.

QatarEnergy last month signed a 20-year agreement to buy 3 million metric tons per year from Woodside's US facilities, with deliveries expected to start in 2030. It also signed two agreements with Cheniere Energy for up to 4 million tons per year through 2054 from its Sabine Pass and Corpus Christi plants.

QatarEnergy declared force majeure on LNG supplies in March after the Iran war led to the blockade of the Strait of Hormuz and attacks on its Ras Laffan facilities. The force majeure runs through December for now.

The Middle East crisis has prompted India to seek alternative supplies, with purchases of super-chilled gas from countries spanning the US, Oman, Nigeria, Angola and Australia.

Petronet has also suspended time charter agreements for three LNG tankers due to the force majeure on Qatari supplies.


Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.