Petronet LNG to renegotiate crude price in ExxonMobil deal: Srcs

Amidst the changing gas market dynamics, Petronet LNG is likely to renegotiate India's costliest Liquefied natural gas (LNG) deal with ExxonMobil's Gorgon LNG Project in Australia. CNBC-TV18 learns that this makes for a strong case for renegotiation after Petronet successfully renegotiated its contract with RasGas in Qatar. The company's LNG contract with the Qatar-based company has already been reworked.Sources say that even the government will support Petronet in renegotiation.Earlier in 2009, Petronet and ExxonMobil had signed a 20-year long LNG deal, where the company had agreed to pay Exxon 14.5 percent of crude price under different circumstances. Watch video for more