GAIL sells entire Algeria LNG
State-owned GAIL India Ltd on Friday said it had sold the entire quantity of the LNG spot cargo bought from Algeria.
By PTI |
NEW DELHI: State-owned GAIL India Ltd on Friday said it had sold the entire quantity of the LNG spot cargo bought from Algeria.
The LNG, equivalent to 80 MMSCM of natural gas, was sold to NTPC, Delhi Vidyut Board, Birla Copper and some others.
"The Indian gas market has now attained full maturity despite all speculations. This summer, consumers can look forward to cheaper power produced from LNG rather than Naptha," GAIL Chairman and Managing Director Proshanto Banerjee said in a statement.
The company is in discussion with major suppliers for bringing more LNG cargoes from South East Asia, Middle East and North Africa.
Touted as the most expensive LNG till date, the cargo of 1.35 lakh cubic metre was bought at an ex-shipment price of about $9.28 per million metric British thermal unit (mmbtu).
After adding various taxes and other costs, this translates into a delivered price of $11.64 per mmbtu if sold outside Gujarat and $12.04 per mmbtu if sold within Gujarat.
The LNG, equivalent to 80 MMSCM of natural gas, was sold to NTPC, Delhi Vidyut Board, Birla Copper and some others.
"The Indian gas market has now attained full maturity despite all speculations. This summer, consumers can look forward to cheaper power produced from LNG rather than Naptha," GAIL Chairman and Managing Director Proshanto Banerjee said in a statement.
The company is in discussion with major suppliers for bringing more LNG cargoes from South East Asia, Middle East and North Africa.
Touted as the most expensive LNG till date, the cargo of 1.35 lakh cubic metre was bought at an ex-shipment price of about $9.28 per million metric British thermal unit (mmbtu).
After adding various taxes and other costs, this translates into a delivered price of $11.64 per mmbtu if sold outside Gujarat and $12.04 per mmbtu if sold within Gujarat.
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