The global energy shortage has prompted India to ask Qatar, the world’s biggest supplier of liquefied natural gas, for around 50 cargoes it deemed too expensive six years ago.
State-linked importer Petronet LNG asked Qatargas to deliver the cargoes in the coming year, on top of the approximately 115 cargoes that its long-term contract stipulates for 2022, according to people familiar with the discussions. Normally, companies do not retroactively claim cargoes after initially declining them.
Petronet’s unusual move underscores the desperation of buyers as supply disruptions from Peru to Russia and a voracious post-pandemic rebound in energy demand push spot prices to record highs.
“We have requested Qatar to give us the pending 50 cargoes next year,” Akshay Kumar Singh, chief executive officer of Petronet, said on the sidelines of the CERAWeek India Energy Forum. “We require the cargoes now.”
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