India may sign $12.5-b LNG deal with Australia

India is likely to sign a $12.5-billion deal with Australia in the next two-three months to import 2.5 million tonnes of LNG per annum for 25 years, beginning mid-2010. ?We have concluded most of the agreements. A formal agreement can be signed as early as March-end,? petroleum secretary M S Srinivasan said here. Petronet LNG will import 2.5 million tonnes of LNG from Chevron-operated Gorgon Project.

Chevron Australia has a mandate to sign a sale deal with Petronet by June 30, but a formal agreement can be inked within next 60 days, he said. Petronet LNG, a company promoted by ONGC, Indian Oil, Gas Authority of India and Bharat Petroleum, will import LNG from the Gorgon project at its under-construction Kochi terminal in Kerala. ?Supplies will begin around mid-2010,? he said

Source: The Economic Times, New Delhi
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