GAIL of India Plans to Buy 19 LNG Cargoes by March

GAIL of India Plans to Buy 19 LNG Cargoes by March

GAIL’s chairman B.C. Tripathi said on Friday that the company plans to purchase 19 LNG cargoes by March.

Nine of the planned LNG cargoes will be bought from the spot market, Reuters cited Triphati as saying.

He also said that GAIL is looking for “good” shale gas assets in the United States.

GAIL and the Shipping of Corporation India in June signed a Memorandum of  Understanding to cooperate for transportation of 5.8 MTPA of LNG being sourced by GAIL from Sabine Pass and Cove Point terminals in the USA.

The cooperation would include SCI assisting GAIL in the charter hiring of LNG ships and GAIL assigning step-in right to SCI in the ownership of LNG ships.

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LNG World News Staff, October 25, 2013

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