Qatar's Emir Sheikh Tamim Bin Hamad Al-Thani to visit India with hopes of new deal for LNG exports

NEW DELHI: Qatar's Emir Sheikh Tamim Bin Hamad Al-Thani is visiting India on Wednesday and Thursday with hopes of new deal for LNG exports from the Gulf country to South Asia's biggest energy consumer.

Qatar is the largest supplier of LNG to India. There is a large market for Qatar’s LNG, oil and petrochemical sectors in India. RasGas has entered into a 25 year 7.5 million tonnes per year sale and purchase agreement with Petronet and has been supplying the Indian market since 2004.

The bilateral trade and investment relationships between Qatar and India have been witnessing significant developments. Qatar and India bilateral trade was at $16.7 tn in 2013-14.

Qatar’s major exports to India include Petrochemicals, LNG, fertilizers, Sulphur and Iron Pyrites. India is the third largest export destination for Qatar. Qatar’s major imports from India include accessories, manmade yarn, fabrics, made-ups, cotton yarn, transport equipment, machinery and instruments, food and construction materials.

Qatar’s major imports from India has increased in recent years mainly from food and construction materials. India is also negotiating a Free Trade Agreement (FTA) with Qatar under the India – Gulf Cooperation Council (GCC) Framework Agreement.

In Dec 2014 India has received its biggest shipment of liquefied natural gas (LNG) at Petronet LNG Ltd's Dahej import terminal in Gujarat.

Qatar has also evidenced interest in India’s Smart City project with focus of this investment on 10 smart-city projects in a first phase, besides power, solar energy, infrastructure development, health care and education.