SCI, GAIL join forces to buy nine LNG carriers

Shipping Corporation of India and GAIL Limited are mulling a cooperation to acquire and operate nine LNG carriers for almost $3 billion. 

SCI Director (liner and passenger services) Sarveen Narula said that once the JV is formed the shipping company will have the option to buy the stake of up to 25%, reports PTI.

Ships will be purchased through GAIL while SCI will run the vessels in partnership with the company.

Naruda further said that both companies are in active search for other partners with the MoU entering its final stages.

LNG World News Staff, October 6, 2014; Image: GAIL