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QatarEnergy inked a five-year LNG supply agreement with India’s state-owned firm Gail, Bloomberg reports, citing sources with knowledge of the matter. The Indian firm will receive one LNG shipment per month from April 2025 until March 2030. The GCC country is already India’s largest LNG supplier, providing nearly half of the country’s total purchases in 2030.
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An agreement has been bubbling for a while: Sources said Qatar and Gail were on the brink of finalizing the LNG agreement for 1 mn metric tons per year for potentially 20 years back in November 2023, Reuters reported at the time. Gail has been on the hunt to diversify gas imports and lock in supply contracts by 2030 to hedge against disruptions and price surges, the newswire wrote.
Not the first: Adnoc Gas signed a 10-year sales and purchase agreement with Gail back in November which will see the Emirati firm supply Gail with 0.52 mn metric tonnes of LNG a year starting in 2026.
The Southeast Asian country is looking to raise the share of natural gas in its energy mix from 6% to 15% by 2030, Argus reports. The firm aims to add 5 mn to 6 mn tons per year of medium-to-long-term LNG contracts to boost its LNG portfolio to 20 mn to 21 mn tons per year by 2030, the news outlet added.
QatarEnergy has been busy: QatarEnergy will supply Shell with 3 mn metric tons of cargoes to China. Other offtake agreements include a 20-year agreement to supply up to 18 mn tons of naphtha annually to International Eastern Trading Company starting April 2025. It signed an agreement to purchase six 271k cubic meter capacity QC-Max LNG vessels from China State Shipbuilding Corporation.
