Qatar commits to contribute to India’s growing energy demands

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Qatar Petroleum President and CEO, Saad Sherida Al-Kaabi’s high-level India visit concluded on a positive note. Al-Kaabi also fondly called as Qatargas Chairman has reaffirmed his country’s continued commitment to contribute effectively to India’s surging energy demands including seamless supply of LNG and other hydrocarbons.

Al-Kaabi was in New Delhi to hold a series of talks with senior Indian energy officials on enhancing co-operation and business ties between Qatar and India. India is one of Qatar’s largest LNG markets with more than 10 million tonnes (mt) delivered annually in recent years.

Speaking to the Gulf Times Al-Kaabi said, “Qatar appreciates and values its long-term and mutually beneficial relationship with India and reiterates its commitment to effectively contribute to satisfying India’s growing energy demand, including the reliable delivery of LNG and other hydro carbons.”

Al-Kaabi’s Qatargas is the single largest LNG supplier for India and serves multiple customers in the country. Way back in 1999 RasGas (now known as Qatargas) and Petronet LNG Limited had entered into a long-term sale and purchase agreement (SPA) for 7.5mt of LNG supply every year. A new SPA was signed in December 2015 for supplying an additional 1mntpy increasing the total annual commitment between the two nations to 8.5mntpy.

Al-Kaabi met with India’s Minister of Petroleum and Natural Gas Dharmendra Pradhan. He discussed the bilateral co-operation between the two countries and how India could further strengthen its energy relations with Qatar, particularly in the LNG sector.

Al-Kaabi also met senior officials from Indian Oil Corporation, GAIL, Petronet and Reliance Industries.