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India to look into long-term gas pricing mechanism from Qatar: Dharmendra Pradhan

Gas Supply latest news: Union Oil Minister Dharmendra Pradhan said that the country needs to look into the pricing of long term gas supply contracts with Qatar. Here's for more

twitter-logo Reuters        Last Updated: January 27, 2020  | 13:39 IST
India to look into long-term gas pricing mechanism from Qatar: Dharmendra Pradhan
Union Minister of Petroleum and Natural Gas Dharmendra Pradhan

India's Oil Minister Dharmendra Pradhan said on Monday the country needs to look into the pricing mechanism of existing long term gas supply contracts with Qatar. He was speaking to a gathering of oil company officials in New Delhi.

India imports 8.5 million tonnes of liquefied natural gas (LNG) annually under a long-term supply deal with Qatar. Spot prices, or current market prices, of LNG have dropped to multi-year lows in January, highlighting the loss being borne by LNG importing countries tied in long term contracts with suppliers.

Also read:International Energy Agency slams govt over pricing policy of natural gas

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