GAIL of India has reportedly demanded price renegotiation of an LNG import deal with Gorgon project in Australia because of its high price.
The company has asked India’s largest LNG importer Petronet LNG to renegotiate a 20-year deal to buy 1.44 million tonnes per annum of LNG at a price equivalent to 14.5 per cent of ruling oil rates.
Petronet is to get Gorgon LNG in the second half of 2015, with initial supplies of being about 0.48 million tonnes, ramping up to contracted 1.44 million tonnes in two years.
[mappress]
LNG World News Staff, July 26, 2013; Image: Chevron