India plans to reduce LNG imports from Qatar
The Dollar Business Bureau Pitching for reduced dependence on energy imports, the Prime Minister of India, Narendra Modi on Friday said, ‘India should cut down the oil imports by 10% by 2020’. In line with the above statement, India is likely to cut down the contracted volumes of gas from a Qatar-based company RasGas Company Limited, by about 10%. Under the first Sales and Purchase Agreement (SPA) that was signed between India and Qatar in 1999, both the sides had agreed on reducing contracted volumes on acceptable terms. The reduction in import of gas is in view of the gas pricing in spot market which, has lowered by almost $6/BTU as compared to the pricing that is being followed ...
