Indian Torrent Power Plans to Buy 36 LNG Cargoes
Indian utility Torrent Power is looking to buy a total of 36 LNG cargoes during calendar year 2018, 2019 and 2020 for which it floated a tender June 9, the company said June 9.
The deadline for bid submissions is June 30, it said.
The company requires three cargoes every quarter for the next three years. The volume of each cargo will be 140,000 metres3 and will be on an ex-ship basis. The cargoes will be delivered at Petronet LNG’s Dahej terminal where Torrent has booked storage and regasification capacity of up to 1mn metric tons/yr.
Torrent has already procured LNG cargoes to meet its 2017 requirements, it said.
With LNG prices remaining soft, Indian consumers have been stepping up imports of LNG. For the fiscal that ended March 31, 2017, total LNG imports were up 15.5% year on year at 24.6bn m3.
Shardul Sharma