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Spice Energy to import LNG from Indonesia

NEW DELHI: Spice Energy will import LNG from Indonesia at its proposed $400 million import terminal in Haldia while its unit Cals Refineries has signed a deal with oil major BP plc to source up to five million tonnes a year of crude oil for its $1.1 billion refinery in the same city.

“We have signed a framework agreement with Indonesian State-run firm Pertamina for sourcing liquefied natural gas for the Haldia import and re-gassification facility we plan to set up by 2011,” Spice Energy CEO Ravi Chilukuri told PTI.

Spice Energy is setting up a 2.5 million tonnes facility that would sell gas to fertilizer plants in West Bengal.

In the same port city, Cals Refineries, the Bombay Stock Exchange listed firm, where Spice Energy promoters hold just under 15 per cent stake, is relocating a five million tonne refinery from Germany by the first quarter of 2010. It has also got BP to commit 2.5 million tonnes a year of heavy crude and a similar quantity of light crude for the refinery. He said Spice had also signed a deal with Indonesian miner PT Tambang Batubara Bukit Asam Tbk to buy six million tonnes of coal a year for 20 years from 2011. — PTI

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