Exxon eyes more gas supply deals with India

Global energy major ExxonMobil is looking at signing more long-term gas sales deals with India as rising spot prices have added to the appeal of longer duration contracts.

"We're certainly happy to work with our friends and partners in India to sign the kind of long-term contracts that allow a large part of the energy demand to be de risked from a price perspective," said Monte Dobson, CEO, ExxonMobil Gas (India).

At present Exxon has a long-term contract to annually supply 1.5 million tonnes of liquefied natural gas to Indian firm Petronet LNG.

India is the world's fourth biggest importer of gas. And the fuel's demand in India is set to grow as Prime Minster Narendra Modi has set a target to raise the share of gas in the country's energy mix to 15 per cent by 2030 from the current 6.2 per cent.