Petronet to import addl 2.5MTPA LNG from RasGas

Petronet LNG has signed a contract for importing an additional 2.5 million tonne per annum (MTPA) liquified natural gas (LNG) from RasGas of Qatar.

Petronet, at present, imports 5 MTPA LNG from RasGas, and the additional volume would start flowing from the July-September quarter of 2009, managing director and CEO P Dasgupta said today.

The agreement was signed by Dasgupta and RasGas chairman Ibrahim B Ibrahim on August 3.

Ras Laffan Liquefied Natural Gas Company (II) (RasGas-II) said this would complete a 7.5 MTPA sales and purchase agreement signed in 1999.    "The delivery of the first phase, consisting of 5 MTPA, began in January 2004. RasGas II and Petronet signed a side letter agreement on August 3, 2006, amending the existing SPA to implement the sale of the remaining 2.5 MTPA," it said.