Petronet inks deal for supply from RasGas

Petronet LNG, a privately-registered company promoted by state-owned oil firms, has signed a term contract with RasGas of Qatar for supply of approximately 1.25 million tonnes of natural gas, to be imported in ships in liquefied form at the company?s Dahej terminal in Gujarat.
Petronet has recently raised the capacity of its Dahej LNG (liquefied natural gas) terminal to 6.5 million tonnes per annum from 5 million tonnes through de-bottlenecking. This raised capacity will be part of the terminal?s expanded capacity of 10 million tonnes per annum, to be progressively achieved between July 2008 and January 2009.
The raised capacity will help Petronet import additional gas it is tying up. An additional supply of 2.5 million tonnes per annum, as part of the existing long-term agreement with Ras-Gas, is also expected to commence from 2009. The debottlenecked capcity will help Petronet handle two spot cargos a month in addition to the normal imports under the long-term contract with Ras-Gas. Company CEO Prosad Dasgupta said the firm was committed to securing additional supplies, particulalry for the power and fertiliser sectors.
Petronet is in talks with Chevronoperated Gorgon liquefaction project in Australia for importing LNG for its second terminal coming up at Kochi. Gas volumes are expected to come from the 25% capacity share being marketed by partner ExxonMobil. It is likely to award the EPC (engineering, procurement and construction) contract for building a second terminal at Kochi in Kerala shortly.
Revised tender documents have been sent to EPC contractors who were shortlisted for the $550 million contract to construct a terminal for importing and regassifying 2.5 million tonnes of LNG (liquefied natural gas) a year. The shortlisted consortias of contractors include Technigaz, IHI and Sofregaz. All the three consortia had first submitted technical and commercial bids for the terminal at Puthuvypeen island on January 31.
Petronet is reviewing technical and commercial bids from international bidders after which it will call for financial bids.

Source: The Times of India, New Delhi, 04 July 2007
                          Petronet LNG Stock Quotes                                       
©Petronet LNG Limited                                                            Home | Contact Us | Disclaimer | Quick Links | Mail Servers: Primary / Secondary |