GAIL India Ltd will import about 5 million tonnes (MT) of LNG from the US next fiscal, replacing the volumes the state-owned utility buys from the spot market, a senior company official said.
GAIL has contracted 5.8 MT per annum of liquefied natural gas (LNG) from the US, some of which it has swapped – either by exchanging the gas with someone having it nearer to India or by time-swapping it.
“We expect to receive about 5 million tonnes of LNG from US next fiscal (2018-19),” the official said. This will be used for replacing the LNG that GAIL currently buys from the spot or current market as well as on short term contracts. Read More…
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