India's biggest gas importer Petronet LNG is close to renegotiating a major deal with its Qatari supplier Rasgas, lowering the cost of gas shipments and avoiding a $1.5 billion penalty fee for lifting less gas than agreed, two sources said.
India's Petronet LNG aims to lease out about two-thirds of the capacity at its Dahej import terminal in Gujarat state over the next four years to boost revenue and prevent the facility falling into disuse.
The company, which h
Japan's Mitsui and sovereign wealth funds of Qatar, Abu Dhabi and Oman are in the race to buy Asian Development Bank's 5.2 per cent stake in India's Petronet LNG, a report said.
Petronet is India's largest na
Qatar Petroleum, the country's energy giant, has expressed its interest to buy a 5.2 per cent stake in Petronet LNG, one of the fastest growing companies in the Indian energy sector, from Asian Development Bank (ADB), said a report.
India's Petronet LNG plans to extend its short-term deal to import liquefied natural gas (LNG) from Qatar's Rasgas until December 2008.
Petronet's director of finance Amitava Sengupta said Petronet wants to import an additional 750,000 ton