Petronet to buy two LNG carriers

India’s Petronet LNG is planning to invest $520m for a pair of LNG carriers as part of a $3 billion investment for the Indian LNG terminal owner’s Kochi-area regasification facility.

Petronet has forged a deal with ExxonMobil to supply the terminal with gas from the Gorgon LNG export project in Australia in which the US oil and gas company will supply 1.5 million tons per year over 20 years.

Petronet hopes to finalize the agreement on 9 August and the planned import terminal, which aims to have 5 million tons of annual capacity, is slated for commissioning in 2010.