GAIL to charter India-made LNG carriers

The government forced its stance on GAIL India regarding the involvement of Indian companies in its 20-year LNG importing plan worth $US7.5 billion.

The company intended to charter only foreign vessels but as sources close to the matter say: “The company on Friday agreed to issue a tender for charter hiring of nine newly build LNG ships in three lots of three ships each. In each lot, one ship will be built in Indian shipyards.”

Besides this, international companies will have to deliver their vessels in three years while domestic shipbuilders will have up to six years of delivery period. The decision was only taken after the government decided to take a strong stance on the matter, reports The Economic Times.

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LNG World News Staff, July 22, 2014; Image: GAIL