Posted on February 22, 2013

India is likely to enter into another long-term LNG agreement with Qatar to meet its growing energy needs soon, India’s Ambassador to Qatar HE Sanjiv Arora has said.

Speaking at an event organised by the Indian Business and Professional Network (IBPN) in Doha on Thursday, Arora said, “Governments from the two sides are in the process of resolving a pricing issue that had held up the deal.

“India is now looking to take overall gas imports from Qatar to 15 million metric tonnes per annum (mmtpa) level by 2015-2016. The move will considerably boost the bilateral trade, which rose to $14 billion in 2012 from $1.2 billion in 2005.” He added: “India has increasingly turned to Qatar to meet its growing natural gas requirements over the past decade. Holding the world’s third-largest gas reserves after Russia and Iran, Qatar is a natural choice for such partnership.

Qatar Airways HQ 300x250

“India has already locked in supplies of 7.5 million (mtpa) of liquefied natural gas (LNG) from Qatar’s RasGas and has been looking to boost this by an additional three million mtpa for the past year. India also imported 5.6 million tonnes of crude oil from Qatar in 2010-2011.” The envoy also hinted that the two countries were planning ways to enhance their cooperation in other sectors.

He said: “The two states are working on means to broaden their economic ties beyond trade in energy. Qatar is set to emerge as a strategic investor in India’s infrastructure plans, while India is holding steady on its security guarantees from Qatar. “The number of business visas issued for India shows the growing interest of Qataris in the Indian market. A lot of Qatari businessmen have visited India in the recent times to explore business opportunities there. The number of such visits is still growing.” The ambassador also addressed a visiting Indian trade delegation on the occasion.

A 12-member trade delegation under the banner of Capexil is currently in Doha to explore business opportunities. Capexil is a non-profit organisation set up by the Indian Ministry of Commerce to promote exports of chemical and allied products from India.

source: Qatar Tribune