Avijit Bajpai
India today offered a 10 percent stake of Petronet LNG to Qatar with a view to obtain 18 more LNG cargoes this year and to make the world’s largest LNG exporter agree on long-term supply deal for meeting the fuel requirements of Dabhol Power Plant.
The LNG exporter has already made a commitment to sell six loose LNG cargoes in the first six months, and is expected to export another 18 cargoes later this year. Indian Petroleum Minister, Murli Deora, also requested the company for a long term contract to meet the needs of 2150 MW Power Plant in Maharashtra.
Deora offered Qatar Petroleum a 10 percent stake in Petronet LNG Ltd which will be examined by the company board soon. In 2004, Qatar offered a 5 percent stake in Qatar Petroleum to Indian firms but the deal could not be finalized due to reluctance of ONGC to make a payment of $135 million.
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