India is unhappy with the terms of the contract with Gazprom and wants to change them, Kommersant writes.The other day, Indian Minister of Energy Dharmendra Pradhan said that the country would like to change the terms of all long-term contracts for the purchase of liquefied natural gas that it has concluded, and is waiting for this moment. Agreements do not imply too frequent revisions of the terms, and the last time this happened recently.The businessman explains this desire of India by the fact that prices on long-term contracts are tied to oil, and are already twice as high as those established in the spot market.There are two major LNG importers in India. One of them, Gail, has a contract with Gazprom. It provides for the supply of 2.5 million tons of gas per year, and is valid until 2041.In 2016, companies began negotiations to revise the agreement. As a result, it became longer for three years, and the supply volume in 2018 and 2019 became less.Thus, a new revision is unlikely to start before 2020 – usually the terms of LNG contracts prohibit changing them more than once every five years. However, interlocutors close to Gazprom told the publication that the issue has not yet been raised.
