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Malaysia’s Petronas signs first term agreement for LNG supply in India

Malaysia’s Petronas signs first term agreement for LNG supply in India

KUALA LUMPUR: Malaysian firm Petroliam Nasional Berhad, or Petronas, said on Thursday it has signed its first term agreement to supply (LNG) in 

has signed a sale and purchase agreement to supply LNG to H-Energy Mideast DMCC (HEMD), it said in a statemen. The value of the deal and the volume of LNG were not disclosed.

Dubai-based HEMD is part of the LNG arm of Indian group 

Earlier this month, an said India’s push to more than double the share of in its to 15 percent by 2022 will require a huge increase in imports and the construction of more LNG terminals.

The 70 million-tonnes-a-year target means would need to import more than took last year via both pipelines and tankers, and it would put Indian purchases close to the level of top importer