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We interacted with the management of Petronet LNG Ltd. on aspects such as the current business status and outlook.
In addition, we had a detailed discussion on the various prospects for business diversification in the recently published FY21 Annual Report.
The management highlighted that spot prices have risen to abnormal levels of $24–25/ metric million British thermal unit (i.e., two times that of long-term contracts) on account of huge demand from China, Japan, and Europe.
This has resulted in lower spot cargo orders being placed over the last few months.
Petronet LNG expects spot liquefied natural gas prices to normalise over the next five to six months.
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