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July 23, 2001
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Money > Business Headlines > Report July 23, 2001 |
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Oman LNG to hold talks with Enron on Indian dealAn Oman liquefied natural gas team is leaving for Maharashtra to hold talks with the officials of Enron Corporation regarding a long-term gas supply agreement with India. In December 1998, Oman LNG had signed a sale and purchase agreement to sell 1.6 million tons of liquefied natural gas annually to Dabhol Power Company, which is owned by Enron, for 20 years. Under the deal, gas supply to the Dabhol project is to start from February 2002. India will absorb a quarter of the gas production from Oman LNG, the Oman Observer newspaper reported. "We need to discuss the turbulent situation," OLNG general manager Graham Searle said, referring to the standoff between the Maharashtra government and Enron over no-payment of dues to the power major. "I think there is going to be a delay in the implementation of the Dabhol power project. In the contract there is enough flexibility for both the parties," Searle told the paper. "There is no impact on the gas contract but there may be a delay in the first shipment to India," he added. According to the plan, LNG is to be unloaded at the Dabhol port, and re-gasified for use at the re-gasification facility, all of which was to be built by DPC. More than 80 cargoes of LNG have been dispatched to customers in Korea, Japan, the US and Spain. Indo-Asian News Service ALSO READ:
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