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IOC cancels LNG import tender due to higher prices – trade sources

Indian Oil Corp has cancelled its tender to import liquefied natural gas (LNG) for delivery in mid February due to higher prices, two trade sources familiar with the matter said.

One the of sources said offers were made at current spot rate of about $30/million British thermal units, which is “unaffordable” to Indian customers.
Source: Reuters (Reporting by Nidhi Verma and Jessica Jaganathan. Editing by Jane Merriman)

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