India currently imports 8.5 million t of LNG from Qatar under long-term supply contracts. Renegotiations regarding the price of these contracts are being sought by India, in light of the fact that Asian LNG spot prices recently dropped to approximately 50% of the long-term contract price.
While seemingly reluctant to renegotiate these existing contracts, Qatar is, however, reportedly willing to negotiate the supply of additional volumes of LNG to India.
