While majority of global economies faced slowing growth with high inflation, on account of an unprecedented volatility in the global energy and commodities markets, however, India remained an outlier, primarily driven by the South-Asian giant's expansion in infrastructure, private consumption, expansion in rural demand, and its focus on manufacturing.
This drive has to be fueled by less polluting and more reliable energy resources. The country appears to be ironing its positioning in that direction, as it procures Liquified Natural Gas from Qatar, one of the world's largest LNG exporters.
India Looks at Qatar to Reinforce Its Supplies
India likely to extend LNG import deal with Qatar for 20 years at lower rates. India is likely to sign on Tuesday a multi-billion dollar deal to extend import of 7.5 million tonne of LNG per year from Qatar for another 20 years beyond 2028 at rates that are lower than current prices, sources said.
Petronet LNG Ltd will sign the deal to extend import contract with Qatar Energy on sidelines of India Energy Week here.
Sources said the price will be "significantly" lower than current price.
