QatarEnergy signs 17-year LNG supply agreement with India’s GSPC
Qatar Energy has signed a 17-year agreement with Gujarat State Petroleum Corporation (GSPC) to supply up to one million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG) to India, the company announced on Wednesday, October 29. The contracted LNG volumes will be delivered ex-ship, directly to Indian terminals from 2026. Saad Sherida Al-Kaabi, Qatar’s energy affairs minister and the President and CEO of QatarEnergy, expressed continued commitment to supporting India’s growing energy needs.
India’s first ship-to-ship LNG bunkering facility to come up at Vizhinjam
The first ship-to-ship Liquefied Natural Gas (LNG) bunkering facility in the country will be set up at Vizhinjam International Seaport in Kerala. Adani Ports and Special Economic Zone Ltd (APSEZ) and the Bharat Petroleum Corporation Limited (BPCL) have entered a strategic partnership to establish the first ship-to-ship LNG bunkering facility at Vizhinjam. The Memorandum of Understanding (MoU) was signed on the eve of India Maritime Week 2025, which is being held in Mumbai from October 27 to 31, marking a defining moment in the nation’s maritime energy transition. The agreement was formally exchanged between Ashwani Gupta, wholetime director and CEO, APSEZ, and Rahul Tandon, Business Head, Gas, BPCL. The facility at Vizhinjam Port will serve as a dedicated LNG refuelling hub for international vessels transiting the East-West global shipping corridor. By offering an alternative to conventional marine fuels, the project will enable shipping lines to significantly reduce emissions, aligning India’s maritime industry with the International Maritime Organisation’s decarbonisation targets.
BPCL buys crude from every place including Russia based on viability: CMD
State-owned BPCL has said its crude procurement is based on techno-commercial viability for its refineries and it buys from every geography including Russia. BPCL Chairman and Managing Director Sanjay Khanna said that currently preparation of Detailed Feasibility Report (DFR) is underway for the company’s proposed Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Nellore district, Andhra Pradesh and obtaining necessary environmental clearances. “We buy oil from every geography and the oil which is most techno-commercially viable for the refinery, not only me (BPCL), every refiner goes for it. So that is the stand, be it Russian oil or any oil for that matter. That is how we go for it. Whichever is giving us the highest value for the company ensures the reliable operations, Khanna told PTI A senior official of the Department of Petroleum and Natural Gas replying to a query on the crude imports from Russia on Tuesday said those decisions are not taken at the country level but at respective company level. “Companies decide what the most economical oil is and in compliance with the law,” the official told PTI. The official further said there was no direction for the government to any crude importers whether to buy or not to buy from Russia.
India to build own fleet of oil tankers, aims to cut USD 8 Billion charter costs: Hardeep Puri
ndia is planning a major shift in its energy shipping strategy by building its own fleet of oil tankers to reduce the massive freight costs currently paid to foreign vessel operators, Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Wednesday. The Tribune Subscription Banner Speaking at India Maritime Week 2025 in Mumbai, Puri revealed that India’s three major oil marketing companies–Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum–spend approximately USD 8 billion over five years on chartering foreign ships, an amount sufficient to purchase an entirely new fleet of crude-oil tankers The Minister highlighted a striking imbalance, while the oil and gas sector accounts for nearly 28 per cent of India’s total trade by volume, making it the single largest commodity group at Indian ports, only around 20 per cent of this cargo is carried on Indian-flagged or Indian-owned vessels. “This challenge we are now turning into an opportunity,” Puri stated, outlining plans to significantly boost India’s maritime capabilities in the energy sector. India’s energy import dependence remains substantial, with the country meeting nearly 88 per cent of its crude oil and 51 per cent of its natural gas requirements through imports. In the fiscal year 2024-25, the crude import bill alone crossed USD 150 billion.