BG Group

BG Group reaches agreement on long-term LNG sales to India

Press Release  •  Sep 30, 2011 09:36 BST

BG Group announced today it has signed a Heads of Agreement (HoA) with Gujarat State Petroleum Corporation (GSPC) for the long-term supply of up to 2.5 million tonnes per annum of Liquefied Natural Gas (LNG).

The HoA sets out the basis on which BG Group proposes to sell the LNG volumes to GSPC for up to a 20-year period beginning as early as 2014. The LNG volumes will be sourced from the Group's global supply portfolio.

BG Group and GSPC intend to complete negotiations and execute a fully-termed LNG sales and purchase agreement early next year. BG Group Chief Executive Sir Frank Chapman said: "This is a landmark agreement for BG Group, establishing long-term LNG sales into one of the world's largest and fastest growing energy markets. We have been in the Indian gas market for more than 15 years and this agreement brings essential new supplies of natural gas to the country. It adds another important new dimension to the Group's expanding global LNG business."

You haven't completed the steps for your Hosted Newsroom

You haven't entered a correct link to your helper.html file for your Hosted Newsroom. Go to Publish and complete the steps.