NEW DELHI, Oct 29 (Reuters) -

* Indian customers are choosing spot cargoes over long term LNG contracts as spot purchases are cheaper, Prabhat Singh, chief executive of India's Petronet LNG Ltd said on Tuesday.

* Petronet is considering renegotiating long term LNG contracts with Qatar's RasGas, Singh said

* Delivered Price Of Spot LNG is $6.30-$6.40/Mmbtu vs $7.50-$8.50/Mmbtu for supplies under long term deals, he said

* Russia's Novatek wants to set up a small scale LNG plant in India for retail sales, he said

* Singh said Petronet was looking at buying a 26% stake in Bharat Petroleum Corp Ltd's BPCL.NS planned east coast terminal

* Petronet will appoint an adviser in November for due diligence of a deal with Tellurian Inc TELL.O , he said.

* Petronet benefitted from lower corporate tax during the September quarter, Singh said

(Reporting by Nidhi Verma; Editing by Mark Potter) ((Sudarshan.Varadhan@thomsonreuters.com; +919810393152; Twitter: https://twitter.com/sudvaradhan @sudvaradhan;))