Petronet LNG update on agreement with Mobil Australia Resources Company

For purchase of 1.44 MTPA LNG

Petronet LNG has executed the relevant agreements to record the revised commercial understanding on its agreement for purchase of 1.44 MTPA of LNG from Mobil Australia Resources Company (LNG Supplier), an affiliate of ExxonMobil Company from Gorgon project.

Consequently, Petronet has made similar adjustments to its existing Gas Sale and Purchase Agreement with its intermediate off-takers GAIL, IOCL and BPCL.

Besides the above, the Company has also agreed to purchase an additional quantity of 1.20 MMTPA of LNG from an affiliate of LNG Supplier for the Indian markets for a period of 15 years with targeted commencement of supply at a later date. These volumes have been committed for onward sales to GAIL (India), Indian Oil Corporation and Bharat Petroleum Corporation.

 

Powered by Capital Market - Live News