Reliance of India to Buy Spot LNG Cargo

Reliance Industries of India is planning to buy a spot cargo of LNG for delivery between September 1-4 at the Hazira import terminal, Bloomberg reported, citing an unidentified official at the company.

The company’s price target for the LNG cargo is $14.50 per million British thermal units and the LNG will be used use as feedstock at the company’s Jamnagar refinery and power generators.

The 5 mil mt/year terminal in Hazira includes a liquefied natural gas storage and re-gasification terminal within a fully functional port and it is situated in the State of Gujarat on the West Coast of India, about 25 km from Surat city and about 120 nautical miles north of Mumbai.

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LNG World News Staff, July 22, 2013; Image: Shell