India needs two tankers to import LNG from Iran

Vol 9, PW 6 (30 Jun 05) News in Brief

India is in the market to buy two LNG tankers of 154,000 cubic metres capacity each to import 5m t/y LNG from Iran.

Two tankers will be required, confirms an oil ministry source to this report. We will shortly issue tenders.

Moves to acquire the two tankers follows the signing in Tehran on 23rd May of a 25-year agreement to import 5m t/y LNG after 2009. Under present plans, its envisaged that an Indo-Iranian consortium led by state-owned Shipping Corporation of India will operate the two tankers.

Irano Hind Shipping Company, which is 49% owned by Shipping Corporation of India, has told the Indian oil ministry that the proposed LNG shipping consortium will consist of GAIL, Indian Oil, National Iranian Gas Export Company, Islamic Republic of Iran Shipping Lines and itself. Irano-Hind said a first meeting of all potential partners in the shipping consortium was held on 6th May and a second meeting held on 23rd May.