Torrent in talks to import more LNG parcels

Vol 19, PW 19 (02 Jun 16) Midstream & Downstream
     

Ambitious and impatient to join the elite club of independent LNG importers in India, Ahmedabad-based Torrent Power wants to bring in another parcel cargo this year.

Torrent is actively scouting the market and talking to LNG suppliers for its fourth parcel or shared cargo. "There were strong rumours of Torrent finalising talks with BG for a cargo from the Queensland Curtis project in Australia," says an industry source.

"But now Torrent is also looking at getting a cargo benchmarked to Henry Hub, a US cargo." Torrent imported its third 'parcel' cargo on May 14, the biggest till date, sharing it with GSPC. This 157,334-cubic metre cargo was imported through BG from the Equatorial Guinea LNG project at Punta Europa in Gibraltar and came in at Hazira aboard 159,800 cubic metre capacity LNG tanker Maran Gas Efessos owned and operated by Greece-based Maran Gas.

Torrent took 51,000 cubic metres for itself, leaving the rest to GSPC. Exclusive data from Petrowatch.com shows the cargo was sourced at $5.28/mmbtu delivered ex-ship.

A day earlier on May 13, GSPC sourced another long-term cargo from Queensland Curtis under its 20-year deal with BG for a much higher price of $6.08/mmbtu. This 167,886-cubic metre cargo came in aboard Liberia-flagged LNG tanker SCF Melampus on its maiden journey to India.