BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR COOKIE NOTICE
X


India's GAIL eyes more long-term natural gas contracts

Singapore (Platts)--5 Oct 2017 748 am EDT/1148 GMT


Indian state-owned gas utility GAIL is pushing to renegotiate more long-term contracts, following Petronet's renegotiations with ExxonMobil and RasGas, GAIL chairman and managing director B C Tripathi said at a local industry event, according to media reports.

Petronet recently renegotiated its 1.5 million mt/year contract with ExxonMobil from its Gorgon project.

In 2015, Petronet reached agreement with RasGas to reduce the contract price and waive a penalty payment for now lifting the agreed volumes in 2015, and in return increase the 7.5 million mt/year contract by an additional 1 million mt/yr for a 12-year period from 2016.

Tripathi also called for a government policy push to double India's natural gas consumption to 15% of the energy mix, up from the present 6%-7%.

--Edwin Loh, edwin.loh@spglobal.com
--Edited by Dan Lalor, daniel.lalor@spglobal.com


Download our special report:
ASEAN: Emerging among giants

video

The Association of Southeast Asian Nations is set to have a significant impact on energy and commodities in the coming decades, as the region’s demand climbs due to favorable geography and demographics.

Download our latest special report to read about the challenges and opportunities in ASEAN's commodity landscape





Copyright © 2018 S&P Global Platts, a division of S&P Global. All rights reserved.