Indian LNG demand has questions to answer
Despite predictions of explosive growth, price-sensitive buying behaviour and infrastructure challenges cast a pall over the outlook
The large LNG SPA renewal between state-owned QatarEnergy and Petronet turned heads at India Energy Week in early February. The Indian importer agreed to buy 7.5mt/yr from Qatar until 2050, renewing earlier deals that had started in 2004 and 2008. QatarEnergy followed up the deal a few weeks later by announcing it would build an additional 16mt/yr of capacity on top of the 50mt/yr North Field East and North Field South expansions already underway. Petronet’s CEO said in February that he expected LNG demand in India to rise to 150mt/yr by 2030, a sevenfold increase. With approximately 200mt/yr of new LNG export capacity under construction globally and another 220mt/yr in serious development,
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
