RasGas delivers first India LNG cargo under new deal
RasGas of Qatar said on Thursday it delivered the inaugural LNG cargo to India under the new sales and purchase agreement signed with Petronet LNG.
RasGas and Petronet LNG, India’s largest importer of chilled gas, recently signed a revised deal cutting the price significantly and raising the contracted volume.
Under the initial deal signed in 1999, Petronet agreed to pay about US$13 per million British thermal units, while the revised price is reduced to around US$6 to US$7.
The new SPA together with the long-term SPA between Petronet and RasGas for 7.5 MTA raises the total annual long-term commitment between the two companies to 8.5 MTA
According to a statement by RasGas, the LNG cargo was delivered to Petronet’s Dahej LNG terminal aboard the Al Thumama Q-Flex vessel on January 13.
RasGas has delivered, to this date, nearly 81 MTA of LNG to India, to meet the country’s growing demand for cleaner fuel and energy, the statement added.