STATE-owned Qatar energy in a few weeks could sign a liquefied natural gas (LNG) contract with Indian buyers under more flexible terms.
The new contract offers Indian buyers cargoes that are cheaper and destination-flexible.
If signed, the latest deal would run until at least 2050, or possibly even longer.
It would also extend existing contracts that are set to expire in 2028 which covers 8.5-M metric tons per year (TPY) of gas supply.
India aims to increase its natural gas consumption and boost the country’s share of energy mix from the current 6.3% to 15% by 2030.
Qatar, on the other hand, plans to expand its liquefaction capacity from the current 77-M metric tons per year to 126-M metric tons per year by 2027.
In 2023, the wealthy Gulf state signed deals with oil and gas companies in several European countries amid supply competition with the United States in Europe and Asia.
Indian companies could sign the contract with Qatar energy by the end of January or early February.
