India is seeking to renegotiate the contracts it has signed with LNG suppliers in the United States following its success in reducing prices under contracts with Qatar and ExxonMobil, according to The Economic Times.
Gail is seeking to renegotiate the 2011 sales-and-purchase agreement with Cheniere Energy for 3.5 mtpa over a period of 20 years.
Gail wants the fixed-cost portion of the contract to bring prices down to $7-8/MMBtu from $9.7/MMBtu at present, officials told the newspaper.
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