Petronet LNG signs contract with RasGas

Q.  Petronet LNG has re - signed a revised contract with which company?
- Published on 03 May 16

a. RasMas
b. RasGas
c. ONGC
d. None of the above

ANSWER: RasGas
 
Petronet LNG Limited (PLL) has signed a revised contract with RasGas of Qatar. Petronet LNG Limited has a 7.5 MMTPA FOB LNG supply agreement with RasGas, Qatar on long term basis for 25 years.
  • The supply under this agreement commenced in 2004.
  • PLL has successfully negotiated the revised price formula for the said contract effective from 1st January, 2016 thereby aligning prices with the world gas market.
  • Further, PLL has executed agreement for additional supply of 1.0 MMTPA of LNG from RasGas, Qatar for a period of about 12 years w.e.f. January 1, 2016 at the prevailing market prices.

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