GAIL of India to Import 32-33 LNG Cargoes

GAIL’s chairman B.C. Tripathi said on Wednesday that the company plans to import 32 to 33 cargoes of LNG in the 2014/15 fiscal year that starts from April.

He also said that GAIL is operating its Dabhol LNG import terminal at only 0.8 mtpa capacity.

“Dabhol can operate at 3.5 million tonnes (a year). But the question is you should have so much of demand in the country and capacity to absorb at that price. LNG prices are very high in the market,” Reuters cited Tripathi as saying.

India currently imports LNG from the spot market at about $17-$18 per million British thermal units. “There is no appetite at those prices,” he added.

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LNG World News Staff, January 29, 2014; Image: Petronet