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LNG: India Demand For Term Contracts Continues To Grow

LNG
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India’s demand for LNG term contacts continues to grow with several gas majors signing LNG contracts during the India Energy Week event, Argus reports, revealing pricing details. 

  • State-run Bharat Petroleum signed a five-year LNG agreement with ADNOC at 115% of Henry Hub price plus a constant $5.66/mn BTU, similar to the Gail five-year term LNG deal signed in December, sources told Argus.
  • In December, QatarEnergy won a bid to supply 12 cargoes a year to Gail for 5-years beginning in 2025, at 115% of Henry Hub plus a constant $5.6/mn BTU, Argus had previously reported. 
  • IOC signed a 14-year sale and purchase agreement for up to 1.2m tons per year of LNG with ADNOC gas during the event. Deliveries are set to begin in 2026 and the cargoes will be sourced from the UAE’s 6m ton/y Das Island liquefaction facility. The deal was signed at 12.5% of Brent crude prices, Argus reports citing sources.
  • State-owned Gujarat State Petroleum signed a deal for 400k tons/y of LNG with TotalEnergies for 10 years to begin from 2026. The deal was signed at 119% of Henry Hub price plus a constant $4.4/mn BTU, according to Argus.  
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India’s demand for LNG term contacts continues to grow with several gas majors signing LNG contracts during the India Energy Week event, Argus reports, revealing pricing details. 

  • State-run Bharat Petroleum signed a five-year LNG agreement with ADNOC at 115% of Henry Hub price plus a constant $5.66/mn BTU, similar to the Gail five-year term LNG deal signed in December, sources told Argus.
  • In December, QatarEnergy won a bid to supply 12 cargoes a year to Gail for 5-years beginning in 2025, at 115% of Henry Hub plus a constant $5.6/mn BTU, Argus had previously reported. 
  • IOC signed a 14-year sale and purchase agreement for up to 1.2m tons per year of LNG with ADNOC gas during the event. Deliveries are set to begin in 2026 and the cargoes will be sourced from the UAE’s 6m ton/y Das Island liquefaction facility. The deal was signed at 12.5% of Brent crude prices, Argus reports citing sources.
  • State-owned Gujarat State Petroleum signed a deal for 400k tons/y of LNG with TotalEnergies for 10 years to begin from 2026. The deal was signed at 119% of Henry Hub price plus a constant $4.4/mn BTU, according to Argus.