Qatar-based Ras Laffan Liquified Natural Gas Company Ltd will not renegotiate with Petronet LNG Ltd on the price for supply of liquefied natural gas at Dahej and is worried about the lack of progress in finalizing the long-term contract.

"Our price is the best available and we are not going to renegotiate the contract. We have already studied the Indian power market and its affordability", RasGas vice chairman and chairman (marketing team) Ibrahim B Ibrahim told newspersons in Mumbai on Tuesday on the sidelines of the Asia Gas Buyers Summit 2003.

It was now for the offtakers of gas to mitigate the pricing and the biggest challenge for both parties would be if the contract was not consummated, he said.

"We have offered the best deal. Let somebody else strike a similar deal. Our job is to deliver LNG by December 2003 and the ship will reach Dahej terminal on time", Ibrahim added.

One of the option would be having a minimum and maximum price band, he said adding, price was not the only element in a contract.

RasGas is the preferred LNG supplier for Petronet's five mmtpa Dahej LNG terminal. Petronet LNG is a joint venture promoted by the Gail India, ONGC, Indian Oil Corporation and Bharat Petroleum Corporation Ltd.

Ibrahim, referring to the cause of worry, said Petronet has a contract with offtakers, who have not been able to rope in end-customers.

On the affordability to consumers, he said this aspect would definitely be shared by RasGas, offtakers and government of India.

"We have already talked to these parties and they have agreed that pricing has to be affordable", he said.

The demand for LNG in India was not going to change. However, if import duties remain higher, it would affect volumes, Ibrahim added.