New Delhi: As part of India’s new energy sourcing strategy, the first Russian long-term liquefied natural gas (LNG) cargo arrived at the Dahej LNG terminal in Gujarat on Monday.
New Delhi: As part of India’s new energy sourcing strategy, the first Russian long-term liquefied natural gas (LNG) cargo arrived at the Dahej LNG terminal in Gujarat on Monday.
This 3.4 trillion British thermal unit (TBtu) of cargo followed the first US long-term LNG cargo from the Houston-based Cheniere Energy Inc that arrived in India in March.
Indian firms have inked long-term LNG contracts totaling 22 million metric tonnes per annum (mmtpa), with the country consuming 145 million standard cubic meters a day (mmscmd) of gas. India, the world’s fourth-largest LNG importer, has also been trying to leverage the glut in global LNG supplies to renegotiate its contracts.
“The first LNG cargo under the long term contract between GAIL and Gazprom Marketing & Trading Singapore (GMTS) of Russia arrived today at the LNG terminal of Petronet LNG Ltd (PLL) in Dahej, Gujarat,” GAIL said in a statement.
Major energy consumers such as India are seeking better prices as new natural gas suppliers such as Mozambique, Tanzania, Egypt, Israel, Canada and Cyprus expected to enter the LNG market. India imported 19 million metric tonnes of LNG in 2016-17.
The starting of LNG imports from Russia has added a new dimension to Indo-Russian bilateral relations, particularly in the oil and gas sector, said India’s petroleum minister Dharmendra Pradhan, who was present on the occasion, according to the statement.
Indian firms have invested $10 billion in acquiring stakes in hydrocarbon assets in Russia. Also, a consortium led by Russia’s Rosneft PJSC acquired Essar Oil Ltd for nearly $13 billion.
LNG imports from Russia will go a long way in mitigating risks arising out of geopolitical uncertainties, Pradhan said.
This 3.4 trillion British thermal unit (TBtu) of cargo followed the first US long-term LNG cargo from the Houston-based Cheniere Energy Inc that arrived in India in March.
Indian firms have inked long-term LNG contracts totaling 22 million metric tonnes per annum (mmtpa), with the country consuming 145 million standard cubic meters a day (mmscmd) of gas. India, the world’s fourth-largest LNG importer, has also been trying to leverage the glut in global LNG supplies to renegotiate its contracts.
“The first LNG cargo under the long term contract between GAIL and Gazprom Marketing & Trading Singapore (GMTS) of Russia arrived today at the LNG terminal of Petronet LNG Ltd (PLL) in Dahej, Gujarat,” GAIL said in a statement.
Major energy consumers such as India are seeking better prices as new natural gas suppliers such as Mozambique, Tanzania, Egypt, Israel, Canada and Cyprus expected to enter the LNG market. India imported 19 million metric tonnes of LNG in 2016-17.
The starting of LNG imports from Russia has added a new dimension to Indo-Russian bilateral relations, particularly in the oil and gas sector, said India’s petroleum minister Dharmendra Pradhan, who was present on the occasion, according to the statement.
Indian firms have invested $10 billion in acquiring stakes in hydrocarbon assets in Russia. Also, a consortium led by Russia’s Rosneft PJSC acquired Essar Oil Ltd for nearly $13 billion.
LNG imports from Russia will go a long way in mitigating risks arising out of geopolitical uncertainties, Pradhan said.