RasGas Company Limited and Petronet LNG Limited have entered into a binding sale and purchase agreement (SPA) for the supply of an additional one million tonnes per annum (mta) of LNG to India starting in 2016.
The additional LNG is for onward sale to four Indian entities, notably Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd., GAIL (India) Ltd., and Gujarat State Petroleum Corporation.
Qatar’s RasGas is one of the main suppliers of LNG into India and has been supplying Petronet – the largest importer of LNG into India – since 2004.
Further to the new agreement, RasGas and Petronet LNG Limited have also entered into a binding agreement to adjust some aspects of their existing long term LNG SPA of 7.5 MTA, signed by the parties in 1999, which laid the foundation for the LNG business in India.
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