India: BG Aims to Ink GSPC LNG Deal by mid-2012

BG India expects to sign a liquefied natural gas agreement with Gujarat State Petroleum Corp (GSPC) by the middle of the year, Reuters reported, citing Walter Simpson, president and managing director of BG India.

“We are targeting mid-2012. We are very hopeful,” he said.

BG Group in September signed a Heads of Agreement with GSPC for the long-term supply of up to 2.5 million tonnes per annum of LNG.

The HoA sets out the basis on which BG Group proposes to sell the LNG volumes to GSPC for up to a 20-year period beginning as early as 2014.

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LNG World News Staff, March 23, 2012; Image: BG