QatarEnergy has signed a 20-year LNG Sale and Purchase Agreement (SPA) with Petronet LNG Limited to supply 7.5 million tons per annum (MTPA) of LNG to India.
The contracted LNG volumes will be delivered ex-ship to terminals across India onboard QatarEnergy’s LNG fleet starting May 2028. The SPA strengthens the long-standing energy partnership between Qatar and India and aligns with India’s vision to increase the contribution of natural gas in its energy mix. Petronet LNG Limited first entered into an LNG supply agreement with Qatar in 1999, with subsequent agreements, bringing the total contracted volumes to 8.5 MTPA.
The signing ceremony was held in Goa, India, attended by dignitaries including Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy, and Hardeep Singh Puri, the Minister of Petroleum & Natural Gas, and Housing & Urban Affairs in India.
Meanwhile, minister Al-Kaabi emphasized that in order to face challenges, especially in the context of the energy transition, the various stakeholders need to create a balance between energy security, affordability, and sustainability, while at the same time encouraging investments in a diverse energy mix, including renewables, natural gas, and other forms of cleaner energy sources to help mitigate risks associated with the volatility of energy markets.
He also hailed the strong energy relations between India and Qatar, noting that the 25th of January 2024 marked the twentieth anniversary of the inaugural LNG shipment to Petronet’s LNG Dahej Terminal, and that on the 4th of February 2024, Petronet LNG successfully lifted the 2000th LNG cargo from Qatar.
