Indian LNG customers choosing spot buys over long-term deals
10/30/2019
Indian customers are choosing spot cargoes over long term LNG contracts as spot purchases are cheaper, Prabhat Singh, chief executive of India's Petronet LNG Ltd said on Tuesday. Petronet is considering renegotiating long term LNG contracts with Qatar's RasGas, the executive said.
"Delivered spot price of LNG is $6.30/MMBtu-$6.40/MMBtu vs $7.50/MMBtu-$8.50/MMBtu for supplies under long term deals," Singh said. The executive said Petronet was looking at buying a 26% stake in Bharat Petroleum Corp Ltd's planned east coast terminal. Petronet will appoint an adviser in November for due diligence of a deal with Tellurian Inc.
(Reporting by Nidhi Verma; Editing by Mark Potter)
Sign up to Receive Our Newsletter
- ADNOC Gas awards $2.1 B in contracts to enhance LNG supply infrastructure
- U.S. Department of the Treasury releases final rules for clean hydrogen production tax credit
- Tecnimont to build waste-to-biogas plant to fuel local kitchens in India
- Indonesia regulator confirms disruption at bp's Tangguh LNG project
- Topsoe, Aramco sign JDA to advance low-carbon hydrogen solutions using eREACT™
Comments