Qatar has reiterated its commitment to “effectively contributing” to satisfying India’s growing energy demand, including the reliable delivery of LNG and other hydrocarbons.
This was stated by Qatar Petroleum president and CEO Saad Sherida al-Kaabi, also Qatargas chairman, after his successful working visit to New Delhi and talks on enhancing co-operation with top Indian energy officials.
Al-Kaabi expressed “great satisfaction at the positive conclusion” of the visit and 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 hydrocarbons.”
“I would like to thank the Indian government and all the executives and energy leaders we have met for their hospitality and constructive discussions. We look forward to more co-operation between our companies,” he added.
India is a strategic partner for Qatar Petroleum. Its business relationship includes LNG supplies and other energy products to fuel the vibrant Indian economy.
India also represents one of Qatar’s largest markets with more than 10mn tonnes delivered annually in recent years.
Qatargas supplies multiple customers in India and is the single largest LNG supplier to the country.
In 1999, RasGas (now Qatargas) and Petronet LNG Limited signed a long-term sale and purchase agreement (SPA) for 7.5mn tonnes per year of LNG.
This was followed in December 2015 with a new SPA for the supply of an additional 1mn tpy, raising the total annual long-term commitment between the two companies to 8.5mn tpy.
In New Delhi, al-Kaabi held talks with India’s Minister of Petroleum and Natural Gas, Dharmendra Pradhan, and the talks focused on bilateral co-operation and means to strengthen energy relations with Qatar, particularly in the LNG sector.
Al-Kaabi, and the accompanying delegation from Qatar Petroleum and Qatargas, held similar talks with senior leaderships of Indian Oil, GAIL, Petronet, and Reliance Industries.