Shell India may be importing an LNG cargo after a three month gap
Industry sources have suggested that the India arm of Royal Dutch Shell has brought around 80 million cubic metres of liquid natural gas from Australia, at a rate of USD 9.06 per million British thermal unit.
The cargo is expected to reach Gujarat today; if it does it will be the first import India has received since October 13 last year, which came from Trinidad and Tobago at a rate of USD 20.5 per mmBtu.
On top of a 5% custom duty on the import, which would bring the landed cost to USD 9.4 per mmBtu, Shell will have to pay re-gasification charges.
Sources claim it is likely the cargo has been purchased by state-run gas utility GAIL India Ltd.