08 Feb Qatar to expand its liquefied natural gas exports globally
India and Qatar signed a long-term liquefied natural gas deal to extend its long-term imports from the country.
Petronet LNG and QatarEnergy agreed to a new contract which undercuts the current deal that expires in 2028 and will allow Qatar to supply 7.5 million metric tons per year of LNG to Petronet LNG on a delivered ex-ship basis from 2028 to 2048.
As Qatar is the leading LNG exporter globally, the country plans to further increase its liquefaction capacity to 126 million tons per year by 2027 from the current 77 million tons per year through global expansion with European businesses such as Shell, TotalEnergies, and ENI.
The country recently signed a 15-year LNG agreement with Bangladesh between QatarEnergy and Excelerate Energy and a sale and purchase agreement.
Under the sales agreement, Excelerate will be able to secure up to one Mtpa of LNG from QatarEnergy from 2026 and its LNG procurement will begin at 0.85 Mtpa in 2026 and 2027.
Qatar has been steadily expanding its LNG exports to regions worldwide, such as Asia, Europe, and the Americas which has strengthened Qatar’s position in the global energy market.