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PRESS TRUST OF INDIA
NEW DELHI, JUNE 6: Petronet LNG is expecting to sign a supply purchase agreement (SPA) with international consortium Rasgas-Mobil for the shipment of 7.5 million tonnes of LNG annually for its two subsidiaries by the middle of June.
The agreement with Ras Laffan Liquified Natural Gas Co Ltd and Mobil LNG Inc (Rasgas-Mobil) has almost been finalised with regard to legal, technical and financial matters and was likely to be signed at Doha by mid-June, Petronet sources said.
According to the deal, the consortium would supply 2.5 million tonnes of LNG (liquified natural gas) to Petronet LNG terminal at Kochi in Kerala and five million tonnes to Dahej terminal in Gujarat, the sources said.
Rasgas-Mobil will start shipping the gas from Qatar to the two projects by July 2000. The SPA provides for Petronet LNG to pick up equity, in case Rasgas-Mobil consortium sets up a shipping company to transport LNG.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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