India negotiates price cut in Exxon LNG contract

By Staff reporter 11 September 2017

India has won a big price cut on a 20-year LNG import contract with ExxonMobil following a renegotiation, according to Reuters.

India’s oil minister, Dharmendra Pradhan, announced on Saturday that he had renegotiated a contract for 1.5 mtpa of LNG from the Gorgon project in West Australia, which is delivered to state-controlled Petronet LNG.

In return for renegotiating a lower price, India will increase its imports under the contract by 1 mtpa. The price of LNG delivered to Petronet is now expected to be below...

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