GAIL sells some of its US LNG to Europe’s Royal Dutch Shell

Power Watch India - - DESPATCHES FINANCE -

GAIL (In­dia) Ltd has sold some of its liq­ue­fied nat­u­ral gas (LNG) from the US port­fo­lio to Euro­pean energy ma­jor Royal Dutch Shell ahead of pro­duc­tion from early 2018. GAIL has a deal to buy 3.5 mil­lion tonnes per an­num (mtpa) of LNG for 20 years from US-based Che­niere Energy and has also booked ca­pac­ity for another 2.3 mtpa at Do­min­ion Energy’s Cove Point liq­ue­fac­tion plant. GAIL would also is­sue an LNG swap ten­der in two months to cut trans­port costs for sup­plies to In­dia, he said, adding 0.5 mil­lion tonnes of its US LNG has al­ready been booked by lo­cal clients while talks were on­go­ing with do­mes­tic and for­eign firms for more such deals.

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