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Malaysia's Petronas signs first term agreement for LNG supply in India

The 70 million-tonnes-a-year target means India would need to import more than China took last year


Petronas sets up $50 mn lubricant blending plant in India

Malaysian firm Petroliam Nasional Berhad, or Petronas, said on Thursday it has signed its first term agreement to supply (LNG) in

has signed a sale and purchase agreement to supply LNG to H-Energy Mideast DMCC (HEMD), it said in a statement. The value of the deal and the volume of LNG were not disclosed.

Dubai-based HEMD is part of the LNG arm of Indian group

Earlier this month, an said India's push to more than double the share of in its to 15 percent by 2022 will require a huge increase in imports and the construction of more LNG terminals.

The 70 million-tonnes-a-year target means would need to import more than took last year via both pipelines and tankers, and it would put Indian purchases close to the level of top importer

Petronas, the world's third-biggest LNG supplier, has been trying to tap new markets for LNG at a time when global supply has exceeded demand. A had earlier flagged as an area of significant growth potential.


First Published: Thu, February 22 2018. 12:27 IST