Petronet-LNG lands cargo from Excelerate

Vol 14, PW 18 (10 Mar 11) Midstream & Downstream

First it was GSPC, now Petronet-LNG has bought a spot LNG cargo from Texas-based LNG trader Excelerate Gas Marketing, which is fast gaining a foothold in India’s spot LNG market.

PETROWATCH learns Petronet-LNG has landed a 146,866-cubic metre spot LNG cargo at its Dahej LNG terminal in Gujarat on March 4. This cargo arrived aboard LNG tanker Expedient which has a 150,900-cubic metre capacity and is jointly owned by Excelerate and Belgian shipping company Exmar.

Flying the Belgian flag, Expedient was loaded at Freeport on the Texas Gulf Coast. GSPC had earlier landed a 135,138-cubic metre LNG cargo from Excelerate at Dahej on February 5, and is expected to bring in yet another Excelerate LNG cargo on March 28.

Meanwhile, Petronet-LNG also brought in a spot LNG cargo from major international LNG trader Vitol on March 1 at Dahej, aboard LNG tanker Seri Anggun, flying the Malaysian Flag. Seri Anggun is owned by the Kuala Lumpur-based Malaysia International Shipping Corporation, a subsidiary of Petronas and the world’s single largest owner and operator of LNG carriers.

This LNG carrier arrived with a 143,426-cubic metre LNG cargo at Dahej on March 1 and left on March 2 after unloading. “Vitol has sourced this cargo for Petronet-LNG from the Damietta LNG terminal in Egypt (owned and run by the Spanish Egyptian Gas Company or SEGAS),” says an industry source.

“Fortunately LNG export from Damietta is not affected by the unrest in Egypt.” Petronet-LNG has also landed two long-term LNG cargoes at Dahej in the last 15 days from Qatar-based RasGas.

LNG tanker Disha landed a 177,000-cubic metre RasGas cargo at Dahej on February 25 while LNG tanker Aseem landed a 155,000-cubic metre RasGas cargo on March 1. Our source adds that four more LNG cargoes are expected to arrive in India in the next 15 days.