The inauguration of India Energy Week in February
Petronet LNG says price key despite Qatar ties
Huge QatarEnergy deal lays down marker in India’s gas shift, but CEO stresses price still biggest driver as Petronet LNG looks at further buying opportunities
Akshay Kumar Singh, CEO of India’s Petronet LNG, gave a clear insight into his company’s gas importing strategy at India Energy Week (IEW) in February: “Wherever we get the better deal, we can go,” he told Petroleum Economist. Petronet signed a deal at IEW with QatarEnergy to supply 7.5mt/yr on a delivered ex-ship basis from 2028 to 2048 amid a strong message that gas will play a huge role in both India’s energy security strategy and its energy transition plans. The SPA extension between QatarEnergy and Petronet covers a total of 150mt over 20 years, making it the largest such deal ever signed. It will help India meet its target of increasing the share of gas in its energy mix to 15% by 2030
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