State-owned QatarEnergy has signed a multi-year liquefied natural gas supply deal with India’s Gujarat State Petroleum Corporation (GSPC), stepping up its presence in the Indian market.
QatarEnergy on Wednesday said that it had signed a 17-year sales and purchase agreement (SPA) with GSPC for the supply of up to 1 million tonnes per annum of LNG to India.
“Pursuant to the terms of the SPA, the contracted LNG volumes will be delivered ex-ship to terminals in India, starting in 2026,” QatarEnergy added.
QatarEnergy is a key LNG supplier to the Indian market and has an existing sizeable long-term supply deal with Petronet LNG, the nation’s largest operator of liquefied natural gas import facilities.
The SPA between QatarEnergy and GSPC builds on their first long-term LNG supply agreement signed in 2019, the Qatari player said.
“This agreement reflects QatarEnergy’s ongoing dedication to strengthening global partnerships, promoting cleaner energy solutions and supporting the economic development goals of key markets worldwide,” QatarEnergy noted.
Saad Sherida Al Kaabi, chief executive of QatarEnergy, said: “We are delighted to extend our valued partnership with GSPC through this long-term SPA, which highlights our continued commitment to supporting India’s growing energy needs.”
QatarEnergy is swiftly progressing the expansion of three development phases at its massive North Field that together will scale up the emirate’s LNG production capacity to 142 million tpa before the end of this decade.
The most recent expansion phase, North Field West (NFW), aims to retain Qatar’s long-term position as a key LNG exporter, along with the US and Australia.
