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GAIL India to import LNG on spot market for 1st time in 3 years

Posted on: Thu, 29 Oct 2009 22:16:00 EDT

Symbols: GAILF

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NEW DELHI, Oct 30, 2009 (Asia In Focus via COMTEX) --
GAILF | Quote | Chart | News | PowerRating -- State-run gas utility GAIL
INDIA LTD (BSE:532155) will next month import its first
liquefied natural gas (LNG) cargo from the spot market in three
years when it receives a shipment from Spain. GAIL is likely to
receive the shipment at PETRONET LNG LTD's (BSE:532522) Dahej
import terminal in Gujarat around November 20, a company
official said.

* The cargo has been contracted at a delivered price of
US$6.50 per million British thermal unit and after adding
customs duty and regassification charges, the ex-terminal price
of the gas will come to around US$7.40 per mmBtu.

* Industry sources said GAIL is getting the cargo from
REPSOL, which operates a LNG receipt facility in Spain.

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