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FINANCIAL NEWS
Qatar, India trade to grow in 2016
02 Feb 2016
(MENAFN) The trade between Qatar and India will increase this current year, despite sharp decline in oil prices, and the recent deal for extra supply of Liquefied Natural Gas (LNG) inked between them.
Qatar is important partner of India, and the trade between them two years ago was USD 17bn in which almost USD 16bn was export from Qatar to India and USD 1bn from India to Qatar.
Petronet LNG, India’s main LNG importer, agreed to purchase extra 1mn metric tons of LNG yearly from RasGas through the rest of the 25-year contract.
Additionally, India imports more than 80 percent of its LNG from Qatar and is also one of the largest importers from Qatar, and the trade will increase more between the two sides.
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