November 11, 2026: India’s liquefied natural gas (LNG) buyers are increasingly seeking greater flexibility in long-term supply deals after the Iran war disrupted shipments through the Strait of Hormuz, almost halting imports from Qatar, the country’s largest supplier.

Gujarat Energy Ltd signed an agreement with the UAE’s ADNOC last week to procure 4 million tonnes of LNG over ten years, starting in 2028, from the latter’s international gas portfolio.

Petronet LNG is negotiating with QatarEnergy to include US-sourced LNG in a renewed 20-year supply contract scheduled to begin deliveries in 2028, a Petronet official said.

The existing contract restricts supplies to a facility in Qatar, leaving India exposed to regional disruptions. Including QatarEnergy’s US supplies would provide an alternative source and reduce that vulnerability.

Under portfolio contracts, suppliers are legally obligated to source replacement cargoes from their global network if their primary production facility shuts down, protecting buyers from disruptions at any single facility or along a specific shipping route.

Indian buyers already have portfolio contracts with some major oil and gas companies and traders.

(Source: Economic Times)