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• India signed a USD 78 billion deal to extend LNG imports from Qatar by another 20 years till 2048 at rates lower than current prices. • Petronet LNG Ltd, India's biggest liquefied natural gas (LNG) importer, has signed a pact with QatarEnergy to extend the deal to buy 7.5 million tonne a year of gas for producing electricity, making fertilizers and converting it into CNG. • The renewal is at a "significantly" lower price than the current deal. At current prices, India will save about USD 0.8 per million British thermal unit at the renewed terms. This translates into savings of USD 6 billion over the contract period. • The first 25-year deal is to expire in 2028 and has now been extended for 20 additional years. • The second deal for 1 MTPA entered into in 2015, will be negotiated separately, sources said. • India, the world's third biggest energy consumer, sees natural gas as a transition fuel for migrating to net zero carbon emissions by 2070.
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