India’s Petronet looking for long-term deal to buy U.S. LNG


India’s Petronet looking for long-term deal to buy U.S. LNG

Top Indian gas importer Petronet LNG is looking to sign a deal in a year’s time to buy at least 1 million tonnes of U.S. natural gas annually for a period of up to 10 years, as it pushes to diversify its supply sources beyond the Middle East.

As part of any deal, the firm could potentially take a stake in a U.S. liquefied natural gas (LNG) project, said Petronet’s managing director, Prabhat Singh.

“The U.S. market is open compared to other markets where the state is (often) the controller of minerals,” Singh told Reuters late last week.

“The U.S. offers lots of opportunities and we would like to explore that properly and make a venture (there),” he said. Read More

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