Report: Gazprom, GAIL to renegotiate LNG supply deal

Gazprom could renegotiate the liquefied natural gas supply deal with GAIL of India within the next six months.

Russian giant’s head, Alexey Miller said that the decision is planned to be made in the course of the next six months, Reuters reports.

He said that the two companies are looking to change the period in which GAIL has to increase the amount of LNG it imports from Gazprom.

Under the initial contract signed in 2012, GAIL agreed to import 2.5 million tons of LNG annually, for a period of 20 years.

Miller also said that the volume would not be changed during the negotiations.

LNG World News Staff