Australia LNG eyes equity in Indian petrochemical project

An Australian LNG marketing venture has lined up a possible equity stake in an Indian petrochemicals and power complex to promote sales of LNG to the complex.Australia LNG (ALNG)-the vehicle established early in 1999 to market Australian gas to potential Asian buyers outside Japan-was expected last month to sign a memorandum of intent with the backers of the proposed $5 billion complex at Gopalpur, Orissa, on India's eastern coast, to supply it with 5 million tonnes/year of LNG.Plans call for building an LNG receiving terminal at an estimated cost of 14.82 billion rupees to handle 5 million tonnes/year of LNG, which will be regasified to use as fuel for a 2,000-2,500 Mw power plant es...

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