Indian LNG Imports from US to Cost $10.5

India may have to pay around $10.5 per million British thermal unit for the LNG imported from US.

The LNG price will be linked to a benchmark US price and included a fixed component, Press Trust of India (PTI) reported.

"Based on today's Henry Hub price, the landed cost of this gas will be around $10.5 per mmBtu," a top Oil Ministry official said, PTI reported.

The LNG deliveries are expected to start in late 2016 or mid 2017 from Houston-based Cheniere's Sabine Pass LNG terminal in western

GAIL, the first Asian company to buy liquefied natural gas from the US while Cheniere Energy's Sabine Pass terminal is the only one with approval to export the LNG to nations that don't have a free-trade agreement with the US.