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Amid Power Crisis, India Advises Qatar To Expedite Shipment Of Natural Gas Cargo

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Facing power crisis, India has prompted Qatar to speed up shipment of postponed liquified natural gas cargoIndia, grappling with its worst power crisis in 5 years, has asked Qatar to accelerate shipment of 58 postponed melted gas (LNG) cargoes, 2 sources familiar with the matter said.

Asia's 3rd biggest economy is suffering its worst power scarcity since March 2016 due to a crippling coal lack amid high global energy prices.Infrastructure maintenance at supplier Qatargas avoided it from delivering 50 LNG cargoes to India this year, the sources said, triggering the Petroleum Ministry recently to write a letter looking for shipment of those cargoes.The ministry is also seeking eight additional cargoes which were delayed last year at New Delhi's demand after COVID-induced lockdowns decreased demand for the super-cooled fuel, they said.The sources declined to be named as they are not authorised to speak with media.

Nation's top gas importer, Petronet LNG, has long-lasting deals to purchase 7.5 million tonnes per year (mtpa) of LNG from Qatar and 1.44 mtpa from Exxon's Gorgon task in Australia.LNG under those long-term offers costs about $11-$12 per million British thermal units (mmBtu), versus more than $38 per mmBtu on Asia's spot gas market currently and a record high of over $56 struck earlier this month.

Indian customers in August began postponing imports of area LNG due to high prices, Petronet LNG CEO A K Singh stated at the time.He stated the Indian power sector decreases its intake of LNG when prices rise above about $10/mmBtu.

India has 24 gigawatts (GW) of gas-fired power generation capacity of which about 14 GW has been stranded for more than 10 years due to non-availability of gas, while the remaining plants are operating at extremely low capacity.Petroleum Ministry, Qatargas and its moms and dad business Qatar Energy did not react to Reuters e-mails looking for comment.




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