GAIL offering three Sabine Pass LNG cargoes for sale
State-run gas company GAIL (India) has reportedly offered three cargoes loading at the Sabine Pass liquefied natural gas (LNG) plant in Cameron Parish, Louisiana.
Citing traders, Reuters reports GAIL is offering three cargoes scheduled to load at the plant from May to July, based on Henry Hub gas price.
The Indian company started lifting cargoes from the Sabine Pass facility earlier this month, under its 20-year sale and purchase agreement (SPA) with Cheniere.
The tender for the three cargoes is said to be closing on March 29.
The SPA, which was signed in December of 2011, commenced on March 1. Under the terms of the SPA, Cheniere will sell and make available for delivery to GAIL approximately 3.5 million tonnes of LNG per year.
The Sabine Pass cargo offers came days after GAIL sought to swap seven liquefied natural gas (LNG) cargoes from Dominion’s Cove Point liquefaction facility in the US.
GAIL has already signed similar deals with international players for its US-contracted volumes, looking to reduce the price for price-sensitive Indian customers.
LNG World News Staff