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Global liquefied natural gas (LNG) exporting companies are facing mixed news, the good news is that India's largest utility company Gail (India) is looking for new suppliers to import LNG, and the bad news is that India will be looking for a shorter agreement
than the traditional term contract in the past.
Tripati, chairman of Gale India, said India now consumes nearly 22 million tonnes of LNG a year, but that demand could double in the next four to five years
.
As a result, his company wants to import more LNG, especially around 2023 and 2024
.
But he wants the contract to last only 10 years, rather than the more traditional 20 years
.
Speaking to reporters who interviewed him during the World Gas Conference in Washington on Thursday, Tripati said: "It's hard to think
long-term because of the increased uncertainty.
”
While shorter deals give buyers more flexibility, U.
S
.
developers have been discussing the need for long-term contracts to justify spending millions of dollars on a new export terminal at Cannier Energy in the United States.
For example, Chanier Energy recently announced that it would negotiate a 25-year deal
with a Taiwanese utility.
Those concerns could prompt India to look elsewhere for its own deals
.
"We want to continue working with our established suppliers, but we are also looking for new opportunities, from expansion projects in Qatar to potential new supply
from Mozambique in East Africa," Tripati said.
”
Global liquefied natural gas (LNG) exporting companies are facing mixed news, the good news is that India's largest utility company Gail (India) is looking for new suppliers to import LNG, and the bad news is that India will be looking for a shorter agreement
than the traditional term contract in the past.
Tripati, chairman of Gale India, said India now consumes nearly 22 million tonnes of LNG a year, but that demand could double in the next four to five years
.
As a result, his company wants to import more LNG, especially around 2023 and 2024
.
But he wants the contract to last only 10 years, rather than the more traditional 20 years
.
Speaking to reporters who interviewed him during the World Gas Conference in Washington on Thursday, Tripati said: "It's hard to think
long-term because of the increased uncertainty.
”
While shorter deals give buyers more flexibility, U.
S
.
developers have been discussing the need for long-term contracts to justify spending millions of dollars on a new export terminal at Cannier Energy in the United States.
For example, Chanier Energy recently announced that it would negotiate a 25-year deal
with a Taiwanese utility.
Those concerns could prompt India to look elsewhere for its own deals
.
"We want to continue working with our established suppliers, but we are also looking for new opportunities, from expansion projects in Qatar to potential new supply
from Mozambique in East Africa," Tripati said.
”
