India’s GAIL explores up to 26% stake in US LNG projects | – #Indias #GAIL #explores #stake #LNG #projects
SINGAPORE, Feb 17 (Reuters) – India’s largest gas distributor GAIL (India) Ltd (GAIL.NS) USAwants to buy up to 26% equity stake in a liquefied natural gas (LNG) liquefaction plant or project in , according to the document issued by the company.
GAIL last year faced supply disruptions after Russian-owned Gazprom Marketing and Trading (GMTS) failed to deliver some LNG cargoes following western sanctions imposed on Moscow over its invasion of Ukraine.
The February 16 document states that the company either directly or through its affiliates USAin offer “investigating the opportunity” to acquire capital for an existing or post-commissioning LNG liquefaction plant or project.
India gas How much for any possible deal from the distributor funds it has not been reported.
“Furthermore, GAIL directly or through any of its affiliates is interested in sourcing 1 million tonnes per annum of LNG from the LNG liquefaction plant or project on mutually acceptable terms and free of charge for a period of 15 years. conditions”, it was said.
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The document added that the duration of the LNG supply contract is 5 or 10 year may be further extended and deliveries will initially start from the last quarter of 2026.
Last date for interested companies to submit their proposals to GAIL, the document said 10 it’s march
January GAIL’s chief financial officer said that GAIL had cut its supply compensation long-term to do gas is seeking import deals and negotiating with Abu Dhabi National Oil Co (ADNOC) and other parties to source gas to meet local demand.
GAIL in 2012 with GMTS for annual average LNG procurement of 2.5 million tonnes 20 signed an annual contract.
GMTS was a division of Gazprom Germania, now called Sefe, but the parent exited the business last April after western sanctions.
By Emily Chow report; Edited by Nivedita Bhattacharjee
Our standards: Thomson Reuters Trust Principles.
2023-02-17 11:39:56
Source – reuters
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