Business Standard: Energy Firms to Cash in on India LNG Import Needs

The absence of new gas finds and declining production from Reliance Industries’ flagship Krishna-Godavari-D6 field is making the business of gas import attractive.

In the past year, Petronet LNG and Shell's Hazira have talked of plans to expand capacity at their terminals. The Reliance Industries-BP combine and British Gas India have decided to import natural gas.

And, France's GDF Suez, a euro 90-billion European energy major, has decided to cash on India's growing need for natural gas. "GDF Suez considers Asia and especially India a core development region for its LNG (liquefied natural gas) business, with strong growth prospects and new supply potential,” said executive vice -president Jean Marie Dauger, after the French major signed a contract in November 2011 with Petronet LNG for 0.6 million tonnes (mt) of LNG by next year. The group has also bid for a 65.12 per cent stake in British Gas India's subsidiary, Gujarat Gas. MORE