India's top gas importer won't bid for Bangladesh's planned LNG terminal
NEW DELHI, (Reuters) -India’s top gas importer Petronet LNG will not bid for the proposed 7.5 million tonnes per annum (mtpa) liquefied natural gas terminal in Bangladesh and instead wants a government-to-government deal, its managing director Prabhat Singh said.
Singh said he was upbeat about the Jan-March quarter earnings of his firm. Petronet LNG hopes spot LNG prices will go down. The company is planning to bid for an LNG terminal in Andaman.
Petronet LNG is keen to set up a 3.5-5 mtpa LNG terminal on India’s east coast and that could cost up to 50 billion rupees ($704 million), Singh said.
The company is also looking at buying a stake in Indian oil Corp’s Ennore LNG terminal.
Petronet hopes to complete the expansion of Dahej LNG terminal to 17.5 mtpa by April.
($1 = 71.0630 Indian rupees) (Reporting by Nidhi Verma; Editing by Mark Potter)
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