India is planning to purchase the first batch of liquefied natural gas (LNG) for its new terminal, as the country eyes a boost in fuel consumption in this decade.
As per sources cited in a report by Bloomberg, the Gujarat State Petroleum Corp. has issued a tender to procure a commissioning cargo for the Chhara terminal, scheduled for delivery in April. The terminal, located in Gujarat state and developed by Hindustan Petroleum Corp., is set to have a capacity of importing 5 million tons of LNG annually.
In a bid to reduce reliance on polluting fossil fuels such as coal and oil, New Delhi is striving to increase its LNG import capacity, aiming to elevate the share of natural gas in its energy mix to 15 per cent by 2030, up from the current 7 per cent. India continues to make a shift to non-polluting fuels.
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Last month, Petronet LNG, India's leading gas importer, inked a big contract with QatarEnergy to boost LNG usage in the country. The deal included Qatar supplying 7.5 million metric tonnes of LNG annually on a delivered ex-ship basis (DES) to Petronet LNG from 2028 to 2048.
The Middle-East country, which is also the world's second-largest LNG exporter, is striving to expand its presence in Asia and Europe amid growing competition from the United States, the leading supplier.
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