LNG Deal

The conclusion of this accord is generally seen as a significant coup for China, which managed to beat other EU countries - like Germany - in the race to secure natural gas

Qatar Energy will send Sinopec 4 million tons of LNG a year starting in 2026, the state-controlled companies announced in a virtual ceremony on Monday

Petronet had in February sought bids from suppliers for 1 million tones of LNG per year for 10 years, starting 2024

Under the deal, India is to get a share in natural gas from the proposed Driftwood project in Louisiana

From 37.5 mtpa, India to expand its capacity to 74 mtpa in a decade

Based on industry estimates, this LNG could cost upwards of $5 per million metric British thermal unit (mmBtu).

Natural gas currently accounts for about 8% of India's overall energy mix