Japanese group wins India LNG shipping contract

Eric Watkins
Senior Correspondent

LOS ANGELES, Dec. 29 -- A consortium of Japanese shipping lines—Mitsui OSK Lines, NYK Lines, and K Line—has won a 25-year contract from India's Petronet LNG Ltd. to deliver LNG from Qatar to India.

The consortium will carry 2.5 million tonnes/year of LNG from Qatar's RasGas liquefaction plant to Petronet's Dahej regasification terminal at Gujarat.

The Japanese consortium partnered with Shipping Corp. of India to outbid a consortium led by Belgian Exmar NV in a price rebid.

Exmar, with its Indian consortium comprised of Varun Shipping Co. Ltd. and Indian Oil Corp., initially had won the bid, but Petronet rebid the project following changes in government policy that "kept Director General of Shipping's Guideline of Indian flag in abeyance," Petronet said.

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