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India and Qatar have strengthened their bilateral ties, with a focus on energy cooperation, trade, and investment. The recent visit of Qatar's Emir, Sheikh Tamim Bin Hamad Al-Thani, to India marked a significant milestone in their relationship, with both countries agreeing to elevate their partnership to a strategic level. The joint statement released during the visit highlighted the importance of energy cooperation, with Qatar being India's largest supplier of liquefied natural gas (LNG). India's LNG imports from Qatar accounted for 50% of its overall imports from the country, totaling $11.49 billion in the first 11 months of 2024.
The Indian government has set an ambitious target to increase the share of natural gas in the country's primary energy mix to 15% by 2030, which is expected to result in a rapid increase in LNG imports. Qatar, with its expanding LNG export capacity, is well-positioned to meet India's growing demand. The Gulf country's liquefaction capacity is set to nearly double to 142 million tonnes per annum (mtpa) by 2027, cementing its position as India's leading supplier of super-chilled gas. The energy sector is expected to play a pivotal role in the bilateral trade, with India aiming to increase its LNG imports from Qatar and other countries to meet its growing demand.
India's oil and gas companies are scouting for LNG supply contracts globally, with several long-term deals signed recently with global majors. The US is expected to be a major competitor to Qatar in the Indian LNG market, with Indian companies keenly eyeing opportunities in the US. The trade relationship between India and Qatar is expected to grow significantly, with both countries aiming to double their bilateral trade to $28 billion by 2030. The investment from Qatar's sovereign wealth fund is also expected to increase, with the joint statement announcing plans to invest $10 billion in India.
The bilateral relationship between India and Qatar has undergone significant changes in recent years, with both countries working to strengthen their ties. The visit of the Qatari Emir to India marked a new era in their relationship, with a focus on cooperation in areas such as energy, trade, and investment. The joint statement released during the visit highlighted the importance of people-to-people contacts, with the Indian community in Qatar playing a significant role in the bilateral relationship. The Indian government has also appreciated the Qatari leadership's efforts to ensure the welfare and well-being of the Indian community in Qatar.
In conclusion, the India-Qatar relationship is expected to grow significantly in the coming years, driven by their strategic partnership in energy and trade. With Qatar's expanding LNG export capacity and India's growing demand, the energy sector is expected to play a pivotal role in their bilateral trade. The investment from Qatar's sovereign wealth fund and the growth in people-to-people contacts are also expected to strengthen their ties, making their relationship a significant one in the region.
qatar lng india bilateral trade energy partnership import increase strategic
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