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New Delhi: Qatar, the world's largest liquefied natural gas exporter, said it will sell additional LNG cargoes to India this fiscal to ease fuel deficit faced by power and fertilizer units in the country.
"We will sell more extra (LNG) cargoes this year," Qatari Oil Minister Abdullah bin Hamad al-Attiyah said on his arrival here to attend the Petrotech 2009 conference.
RasGas of Qatar currently sells 5 million tons a year of LNG to Petronet LNG under a 25-year contract. An additional 2.5 million tons would be supplied under the same contract from fourth quarter of 2009.
Qatar, which last year came to the rescue of beleaguered Dabhol power plant by agreeing to supply just over 1.25 million tons, is likely to supply six cargoes this year beginning February. "India is our single largest customer.
Last year we had sold extra cargoes (beyond the long-term contract) and this year we will attempt to send more," he said.
Petronet needs 24 cargoes in 2009 to meet the fuel needs of 2,150 MW Dabhol power plant in Maharashtra and Pragati Power Plant in Delhi.
Prime Minister Manmohan Singh during his maiden visit to Qatar in November last year had pitched for importing 2.5 million tons a year of additional LNG on long term basis to meet the growing energy needs.
Qatar, which has the world's third largest reserves of gas, in first five years to December 2008 sold LNG to Petronet at USD 2.53 per million British thermal unit. From January, this price has been revised to USD 3.12 per mmBtu, but it is still one-third of the current spot LNG price.
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