French gas major Gaz de France will hedge the risk of India's first liquefied natural gas importer Petronet LNG Ltd against market uncertainties.

Gaz de France, which has picked 10 per cent stake in PLL, will absorb some quantity of gas in case PLL's offtakers were unable to sell the LNG imported from Qatar in domestic market. Similarly, it will arrange for the committed quantities of LNG in case the LNG supplier RasGas failed to make deliveries.

"In the event of offtakers not being able to sell LNG, we will divert it to one of our several customers worldwide. We will also bring gas from our projects around the globe if RasGas fails to supply the committed quantities to India," Gaz de France project director Francis Cazalet told PTI in New Delhi.

Gaz de France, Europe's single largest LNG importer, provided its technical assistance to PLL in construction of the 5 million tonnes LNG import and regassification terminal at Dahej in Gujarat. It is also helping PLL in operation and maintenance of the Dahej terminal, which received its maiden cargo of 138,000 cubic metres of gas that had been liquefied at minus 160 degrees temperature, on January 30.

"Gaz de France would step in under "extraordinary circumstances" to share risks of LNG delivery, if Petronet was unable to place its LNG in India," Cazalet said.

Under the sale purchase agreement signed between LNG supplier RasGas of Qatar and PLL, the cargo of LNG, under extraordinary situation, may be discharged at the receiving terminal of GDF or to any other receiving terminal identified by the technical partner.