India may buy stake in Qatari gas project

DOHA, July 11: India may become a partner in one of Qatar's liquefied natural gas (LNG) projects if it signs a long-term contract to take Qa...

DOHA, July 11: India may become a partner in one of Qatar’s liquefied natural gas (LNG) projects if it signs a long-term contract to take Qatari gas, a Qatari Minister said late on Friday.

Asked if India would participate in one of the Gulf Arab state’s gas projects, Energy Minister Abdullah bin Hamad al-Attiyah told Reuters: "This is part of the package." But he declined to elaborate.

Attiyah returned to Qatar on Friday after preliminary talkswith Indian officials on supplying up to 7.5 million tonnes a year of LNG to India, starting from 2002.

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"Our discussion was very successful and fruitful," he told reporters on arrival. "They are, I think, going to open the bids within three to four weeks," he said, referring to a global tender invited by India to choose a supplier.

Seven international companies have bid to supply gas to Petronet LNG, a joint venture between India’s four government-owned oil and gas companies.

The bidders are Petronas of Malaysia, Pertamina of Indonesia, Australia’s WoodsidePetroleum Ltd, Chevron Corp, Total SA, Mobil/Rasgas and Royal Dutch/Shell.

Mobil/Rasgas is considered one of the front-runners, largely because it is offering a stake of up to five per cent in upstream supply projects, one of the conditions set by Petronet.

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