Petronet LNG to strike deal with Gorgan by June 30  

Petronet LNG is set to finalise the deal with the Australian gas supplier Gorgan before June 30 and a full- scale construction of the Rs 3,000-crore LNG terminal here will begin by July, according to company managing director P Dasgupta.

Dasgupta told media that the project would be commissioned by June 2010 on 32 hectares of land of the Cochin Port Trust. Three companies had, so far, bid for the EPC (engineering, procurement and construction) contract and the last date for the receipt of applications was Wednesday.

The three companies are IHI of Japan which won the EPC contract for the Dahej project, Sofregas of France and SN Technigas and the Punj Lloyd consortium. The contract would be awarded before March 31. Since the soil test had found the conditions to be poor, the piling for tanks would need more work, he added. The contract for the two vessels would be finalised by March 31. He said, two tanks would be set up here and they would be largest in the world. About the pricing, he said, Petronet would go ahead with the average pricing of $5.75 mmbtu.

Source: The Financial Express, New Delhi, January 30, 2007
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