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Supply contract confirmed for LNG

LOCAL listed company Liquefied Natural Gas has confirmed a supply contract with Southern Petrochemical Industries Corporation (SPIC), replacing a memorandum of intent signed in September last year. The agreement makes provisions for the supply of 360,000 tonnes of liquefied natural gas (LNG) over a 20 year term, to SPIC’s existing fertiliser plant in Tuticorin, on the souther tip of India. Under the terms of the agreement, a timetable has been established in which first LNG production will be supplied to SPIC in the fourth quarter of 2007.

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