Indian state-owned gas utility GAIL is pushing to renegotiate more long-term contracts, following Petronet`s renegotiations with ExxonMobil and RasGas, GAIL chairman and managing director B C Tripathi said at a local industry event, according to media reports.
Petronet recently renegotiated its 1.5 million mt/year contract with ExxonMobil from its Gorgon project.
In 2015, Petronet reached agreement with RasGas to reduce the contract price and waive a penalty payment for now lifting the agreed volumes in 2015, and in return increase the 7.5 million mt/year contract by an additional 1 million mt/yr for a 12-year period from 2016.
Tripathi also called for a government policy push to double India`s natural gas consumption to 15% of the energy mix, up from the present 6%-7%.
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