Asia Pacific LNG

Qatar poised to defend market share

The renegotiation of the supply contract between Qatar’s Rasgas and Petronet LNG may hint at the market’s future.

By Verity Ratcliffe and Garima Chitkara 27 January 2016
Rasgas and Petronet LNG have renegotiated their 7.5 mtpa supply agreement. (PA) Rasgas and Petronet LNG have renegotiated their 7.5 mtpa supply agreement. (PA)

Indian oil and gas company Petronet LNG’s renegotiation of its LNG supply contract with Qatari producer RasGas represents an important industry milestone and shows traditional suppliers are alert to new market realities.

Petronet announced on 31 December that it had renegotiated the terms of its 7.5 mtpa LNG contract with the Qatari supplier. It also agreed an additional sales and purchase agreement for 1 mtpa, effective from January 2016.