QATAR-IN­DIA LNG DEAL RE­VI­SION

Qatar Today - - BUSINESS -

THE RE­VI­SION IN THE LNG AGREE­MENT WITH QATAR HAS HELPED BRING DOWN THE PRICE OF IM­PORT­ING NAT­U­RAL GAS TO LESS THAN $5 (QR18.2) PER MIL­LION BRI­TISH THER­MAL UNITS (MMBTU) FROM $12 (QR43.7), IN­DIA’S OIL MIN­IS­TER DHARMENDRA PRAD­HAN SAID LAST MONTH. IN LATE DE­CEM­BER 2015, IN­DIA GOT QATAR TO AGREE TO SLASH­ING ITS GAS PRICE BY HALF TO MATCH A SLUMP IN GLOBAL EN­ERGY RATES, HELP­ING IN­DIA SAVE BIL­LIONS OF DOL­LARS, AS WELL AS GET A WAIVER OF THE $1.81 BIL­LION (QR6.6 BIL­LION) PENALTY FOR BUY­ING 38% LOWER THAN AGREED QUAN­TI­TIES OF GAS.

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