Business Other News 27 Jan 2020 India needs to re-ex ...

India needs to re-examine long-term gas pricing with Qatar: Pradhan

Published Jan 27, 2020, 1:14 pm IST
Updated Jan 27, 2020, 1:14 pm IST
Oil Minister Dharmendra Pradhan.
 Oil Minister Dharmendra Pradhan.

Mumbai: 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.



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