Gorgon LNG price target for PLNG

Vol 12, PW 5 (24 Jul 08) News in Brief
     

Petronet-LNG is working hard to stick to a July 31 target by when it wants to submit an indicative price for 3.75m t/y long term LNG for its Kochi LNG terminal from the Gorgon LNG project in Australia, where operator Chevron (50%), Shell (25%) and Exxon (25%) are partners.

On (Monday) July 21, Petronet-LNG directors approved an indicative LNG price band for Gorgon LNG, which it will now discuss with its R-LNG re-sellers GAIL, IOC and BPCL to reach an “appropriate R-LNG priceâ€‌ for the domestic market, working backwards to get the corresponding LNG price. Also on July 21, Petronet-LNG met six shortlisted bidders for the Kochi LNG terminal marine facilities.

Two weeks ago, an earlier pre-bid for the regassification facilities was attended by CTCI of Taiwan, Tأ©cnicas Reunidas of Spain and Toyo Engineering of Japan. Many were surprised to note that Samsung of South Korea stayed away.

Petronet-LNG wants price bids for the marine and regassification facilities by August 31.