(EnergyAsia, September 30 2011, Friday) — UK’s BG Group said it has secured an agreement to supply India’s Gujarat State Petroleum Corporation (GSPC) up to 2.5 million tonnes of liquefied natural gas (LNG) a year for up to 20 years starting 2014.
BG said it will supply the LNG from its global portfolio once it and GSPC complete negotiations for a fully-termed LNG sales and purchase agreement by early next year.
BG Group chief executive Frank Chapman said:
“This is a landmark agreement for BG Group, establishing long-term LNG sales into one of the world’s largest and fastest growing energy markets. We have been in the Indian gas market for more than 15 years and this agreement brings essential new supplies of natural gas to the country. It adds another important new dimension to the Group’s expanding global LNG business.”