India Plans US$12.5bn LNG Deal With Australia

India is preparing to sign a US$12.5bn contract with Australia for the supply of 2.5mn tonnes per annum (tpa) of liquefied natural gas (LNG). The 25-year deal, due to take effect from 2010, should be ready for formal agreement by the end of March 2007, according to India's Petroleum Secretary M. S. Srinivasan. Gas demand in India is rising rapidly as the country develops gas-fired power stations, with consumption up more than 50% since 1995 and expected to have more than doubled by the end of the decade. We forecast at least 7% average annual demand growth for the next

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