India is likely to sign a monumental deal worth USD 78 billion to extend its liquefied natural gas (LNG) imports from Qatar for another 20 years until 2048, according to sources familiar with the matter.

Petronet LNG Ltd, India's largest LNG importer, is expected to finalize an agreement with QatarEnergy to extend a 2004 deal, which involves the purchase of 7.5 million tonnes of gas annually. This gas is utilized for various purposes such as electricity generation, fertilizer production, and conversion to compressed natural gas (CNG). The signing of this deal is anticipated to take place on the sidelines of the India Energy Week (IEW) being held in Betul, Goa, newswire PTI reported.