GAIL India Ltd., India’s biggest gas marketing company, will get a spot cargo of liquefied natural gas from Qatar’s Ras Laffan Liquefied Natural Gas Co. in the first half of October.
The shipment will be delivered to the LNG import terminal at Dabhol in the western state of Maharashtra, Prabhat Singh, GAIL’s New Delhi-based marketing director, said today in a phone interview. The terminal will restart operations from the middle of October after they were stopped in May because of the monsoon, Singh said.
The delivered price of the Qatari cargo is $14.40 per million British thermal units, said another company official, who asked not to be identified because he isn’t authorized to speak to the media. Spot LNG for delivery over the next four to eight weeks cost $15.55 per million Btu in the period ended Sept. 18, New York-based Energy Intelligence Group said on the website of its World Gas Intelligence publication.
Asian prices are likley to remain at $14 to $16 per million Btu this year, Singh said Sept. 3.
Dabhol LNG terminal is operated by Ratnagiri Gas & Power Pvt., in which GAIL and NTPC Ltd., India’s largest electricity generator, own 32.86 percent each, according to the company’s website. The Maharashtra state’s electricity board has 17.4 percent, while financial institutions own 16.9 percent.