New Delhi, Dec 9: French multinational TotalFina is negotiating with four national oil companies in West Asia to source liquefied natural gas (LNG) for its proposed $550 million joint venture LNG terminal project at Trombay.TotalFina, which entered into a joint venture with Tatas and Gas Authority of India (Gail) for importing three million tonnes of LNG annually at Trombay, has equity participation in Yemen, Abu Dhabi, Oman and Qatar from which the fuel would be sourced, chief representative of Total India JC Berton told PTI.
The oil giant has about 36 per cent equity in Yemen LNG company, 10 per cent stake in Qatar gas corporation, 20 per cent equity in Oman gas company and about six to seven per stake in Abu Dhabi gas company, Berton said adding "we are talking to them to finanlise any one of them to supply gas for the Trombay project."
Berton said that the deal is likely to be finanlised by the end of the current financial year which would involve a gas supply agreement for a period of 25 years for the joint venture Indigas project.
The multinational company is also working out various options for shipping the LNG to its terminal which includes hiring of ships or even setting up a separate joint venture shipping company, he said.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.