India's Gujarat State Petroleum Corporation (GPC) is scouting around for medium and long term LNG supply. GSPC is talking to RasGas of Qatar and British Gas for medium and long term supply beginning from middle of 2010, said a top officil of GSPC.
GSPC is considering 3 to 4 year deal for 1 to 2 million tonnes LNG supply starting from middle of 2010, GSPC official.
GSPC, which is setting up its own LNG receiving and regasification terminal at Mundra on the west coast on India in Gujarat with 6.5 million mt/yr capacity, is in talks for long term LNG supply as well, said GSPC official.
GSPC recently procured spot cargoes from RasGas of Qatar and British Gas delivered during September and October this year.
Asian spot prices have risen above $5 per million British thermal units (mBtu) ahead of peak winter demand from Northeast Asia, though the gains are capped as China is not expected to buy any more spot cargoes for the rest of the year.
GSPC wants to conclude a mid-term deal before March so that supplies can begin from April, the start of 2010/11.
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