Petronet LNG to Sign Deal to Extend Qatar LNG Imports beyond 2028

India's top gas importer Petronet LNG is likely to sign a deal this month to extend its long term imports of LNG beyond 2028, India’s oil secretary said.

Petronet has a 7.5-million metric tons per year (tpy) long-term LNG import deal with Qatar and its promoters Indian Oil Corp, Bharat Petroleum Corp and GAIL (India) Ltd has a 1 million tpy deal. Indian companies had until the end of 2023 to negotiate with Qatar for renewal of the deals to beyond 2028.

"We are pretty close to signing the deal," said Oil Secretary Pankaj Jain.

Last month, QatarEnergy announced a first ever five-year crude oil supply agreement with Shell International Eastern Trading Company, Singapore (Shell). The agreement stipulates the supply of up to 18 million barrels per annum of Qatar Land and Qatar Marine crude oils to Shell starting this month. The agreement highlights QatarEnergy’s strategy in establishing longer-term strategic business relationship and cooperation.