Business Daily from THE HINDU group of publications
Tuesday, Apr 17, 2007
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Business Daily from THE HINDU group of publications Tuesday, Apr 17, 2007 ePaper |
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Corporate
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Announcements Petronet diverts LNG sourced for Dabhol Our Bureau
New Delhi April 16 Petronet LNG Ltd (PLL) has diverted LNG sourced for Ratnagiri Gas and Power Pvt Ltd (RGPPL), the erstwhile Dabhol project, to other customers in the absence of a pipeline to transport the gas. Since January PLL has sourced a total of 350,000 tonnes of LNG from the spot market for the project. Speaking on the sidelines of a gas conference, a senior company official said: "We have imported seven spot LNG cargoes at $7.5-8.5 per million British thermal units (mBtu) from various sources, including Qatar, Algeria, Oman and Egypt." He added that though the LNG is being imported for firing the Dabhol power plant, it is currently being sold to various power and fertiliser companies as the pipeline between Dabhol and Dahej, where the Petronet plant is located, is not ready. "Once the Dahej-Dabhol pipeline is completed, which is likely in June, we will supply three million standard cubic metre per day (mmscmd) of gas to Dabhol plant." The first phase of the 740 MW Dabhol power plant would require around three mmscmd, while the second phase would increase the requirement to eight mmscmd. To meet the gas requirement of Dabhol, the natural gas importer plans to import 20 spot LNG cargoes in the current calendar. The official said that LNG is available in the spot market but the prices are $8-$9 per mBtu, which is nearly double the price of its long-term LNG imports from Qatar.
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