India’s largest gas importer, Petronet LNG Ltd, said on Thursday LNG supplies from Australia’s Gorgon project will begin in 2015-16.
The company had signed a 20-year sales and purchase agreement (SPA) with an Australian subsidiary of Exxon Mobil Corp in August 2009 to purchase around 1.5 million tonnes (mt) a year of LNG from the project, which is likely to begin operations later this year.
“As per the update given by Exxon Mobil, the project is progressing on schedule and is about 65 per cent through,” said A.K. Balyan, MD and CEO of Petronet. “It may begin operations in November-December. So, we can expect supplies by 2015-16. We will get the first shipment at our Kochi terminal.”
“We have already ordered for the construction of a fourth ship that would carry the LNG from Australia to India. It is the same consortium which is doing our transportation from Qatar, and Shipping Corp of India will be operating it,” he said.