This was reported by Bloomberg. Petronet LNG Ltd., the largest importer of liquefied natural gas, said it plans to provide an additional 12 million tonnes to the amount of gas the country buys annually. This will reduce coal consumption by 15 per cent but boost its own production and make its economy more stable.
Earlier, Indian Prime Minister Narendra Modi had said that the project would last until 2030. During this time, the plan is to completely redistribute the gas and ensure New Delhi’s prosperity for many years to come.
However, the country will also face challenges. In particular, India will face competition as other global companies also plan to enter into long-term projects to reduce its exposure to the market volatility that caused the crisis last year, which subsequently led to a spike in spot LNG prices.
Currently, the biggest LNG suppliers to India are the UAE and Russia. As a reminder, UNTK is one of the largest oil traders in Ukraine and provides quality fuel not only to petrol stations but also to all kinds of businesses. While India plans to purchase LNG, we offer you high quality gasoline and diesel that meets all international standards. You can buy petrol in bulk in Ukraine from our website by leaving a request in any convenient way (including messengers).
