Petronet LNG which was earlier
expected to formalise its pact for sourcing 2.5 million tpa of liquefied natural
gas from Australia's Gorgon gas project for its upcoming LNG terminal at Kochi
by June 2007, is now expected to ink the pact by December 2007.
The delay is mainly due to the
environmental snag suffered by the project, leading to change in development
plans of the fields. The Gorgon project is operated by the Australian subsidiary
of Chevron in a joint venture with Australian subsidiaries of ExxonMobil and
Shell.
It is learnt that the draft agreements
were being exchanged and almost eight agreements are likely to be signed, which
will include those on security, guarantee, besides the one on supply. The supply
of gas earlier was expected by 2011, but is now scheduled by 2012.
Also See:
India to ink LNG
deal with Australia (04-Jan-07)