India’s Petronet to renew Qatar LNG contract in January

India’s largest liquified natural gas (LNG) buyer, Petronet, will renew LNG supply contract with Qatar by the end of January, Bloomberg cited India’s Oil Secretary Pankaj Jain, on Wednesday.

Petronet’s 25-year contract with Qatar for 7.5 million tons of LNG a year is supposed to be renewed five years before expiration in 2028. The company’s promoters Indian Oil Corp., Bharat Petroleum Corp., and GAIL (India) have also a one million metric per year (tpy) deal.

In November, Qatar’s Minister of Energy Affairs Saad Sherida Al-Kaabi said that the country will increase its LNG production capacity by 64 per cent to reach 126 million tpy by 2027, up from 77 million.