RasGas has extended its support to India’s transformation into a land powered by clean, reliable, gas-based energy, as part of efforts to strengthen the economic and energy relationships with the Asian country, the fourth largest importer of liquefied natural gas (LNG).
This was highlighted by Hamad Mubarak al-Muhannadi, chief executive officer of RasGas, in his address at the recently held 12th International Oil and Gas Conference and Exhibition Petrotech in New Delhi, India.
He welcomed the Indian government’s recognition that gas needs to grow in the country and underlined the suitability of LNG, which is affordable, efficient and environmentally sustainable for what is considered the world’s fastest growing economy. “In 2016, India will become the second largest buyer of spot and short-term LNG cargoes in addition to being the world’s fourth largest importer overall,” he said, adding “this is the result of a clear choice by both the consumers and the government of India.”
RasGas has a strong and established history of supporting the gas growth within India with the Qatari LNG entity first signing joint LNG sales and purchase agreement (SPA) with Petronet in 1999 for the delivery of 7.5mn tonnes per annum over 25 years, then the largest SPA ever signed.
Since then, RasGas’ presence in India has extended beyond its relationship with Petronet to include Gas Authority of India Limited, Gujarat State Petroleum Corporation, and Reliance.
While it takes a mere three days to ship LNG from Qatar to India’s west coast, geographic proximity aside, al-Muhannadi cited the long-established relationship between Qatar and India, and RasGas’ ability to provide customers with a reliable, available and flexible supply, as key factors in the company’s capacity to successfully meet its customers’ expectations.
“Those native to New Delhi are aware of the impact of coal and diesel particulates in the air, and while it is true that coal is cheap, the price paid in terms of pollution and health is unacceptable,” he said during a panel session titled “Natural Gas: Road Towards Cleaner and Prosperous Future.”
India’s Minister of State for Petroleum and Natural Gas Dharmendra Pradhan with al-Muhannadi and other RasGas officials at Petrotech in New Delhi. RasGas has a strong and established history of supporting the gas growth within India with the Qatari LNG entity first signing joint LNG sales and purchase agreement (SPA) with Petronet in 1999 for the delivery of 7.5mn tonnes per annum over 25 years, then the largest SPA ever signed.
