GAIL of India to Purchase 13 LNG Cargoes in Fiscal 2013

GAIL ‘s chairman B.C. Tripathi said on Thursday that the company needs to purchase 13 LNG cargoes this fiscal year to March out of its planned 34.

He also revelaed that contracts for 21 LNG cargoes have already been finalised, Reuters reported.

GAIL and the Shipping of Corporation India recently 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 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, July 25, 2013