GAIL, Pakistan in LNG Talks

GAIL of India is reportedly in talks with  Pakistan to supply LNG to the gas-starved country.

The two sides are negotiating a five-year contract for supplying 5 million standard cubic metres per day (mmscmd) of gas to consumers in Pakistan, local media cited Prabhat Singh, director marketing at GAIL as saying.

GAIL is confident of selling gas to Pakistan at prices less than what it currently pays as the PSU has locked in lower-priced shale gas resources and is also currently negotiating future contracts at lower prices.

“We are negotiating for lower prices on existing contracts like the Gorgon gas from Australia. Also, for all future contracts, we are seeking prices $2-3 less than what we previously paid,” Singh said.

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LNG World News Staff, July 15, 2013