GAIL (India) has tied up for liquefied natural gas from a US-based company for its soon to be commissioned Dabhol terminal in the West Coast.
Mr Prabhat Singh, Director (Marketing), GAIL said, “Dabhol will be commissioned later this month (March 26-27). We have tied up a spot cargo with Excelerate Energy for commissioning.”
Including this tie-up for Dabhol, GAIL is likely to source more than 16 spot cargoes of LNG in 2012-13. In the current fiscal, GAIL bought 16 LNG cargoes.
COVE ENERGY
Speaking to newspersons at press conference to announce the 7{+t}{+h} Asia Gas Partnership Summit – AGPS 2012 – Mr B.C Tripathi, Chairman and Managing Director, GAIL, said that the company, along with its partner ONGC Videsh Ltd, was still evaluating whether to bid or not for Cove Energy. “We haven't yet made a decision…,” he said.
Recently, GAIL had informed the Bombay Stock Exchange that in association with its partner, it was contemplating participation in the formal sale process being run by Cove Energy Plc. However, it clarified that no decision had been made by the consortium whether to make an offer for Cove or the price at which any such offer may be made.
“Therefore, there can be no certainty that the consortium will make an offer for Cove, or as to the terms of any offer. However, if an offer for Cove were to be made by the consortium, it would be made in cash,” GAIL had said.
GAS SUMMIT
On the two-day international biennial event starting March 23, Mr Tripathi said, the theme of the 7th AGPS was ‘Evolving Dynamics of the Asian Gas Market: Challenges of Sourcing, Integration & Sustainability”. AGPS is organised by FICCI, promoted by GAIL (India) and supported by International Gas Union.