GAIL (India) Ltd Plans Foray Into LNG Shipping-Business Line

Business Line reported that GAIL (India) Ltd said it targets to foray into liquefied natural gas (LNG) shipping business post 2017. In July, the public sector company plans to invite expressions of interest (EoI). B.C. Tripathi, Chairman and Managing Director of India’s natural gas distributor said that around seven-eight LNG carriers would be available with the Company in the next three-four years on a long term charter or ownership basis. However, till 2017, GAIL would depend on spots cargoes on delivery basis. GAIL has signed long term agreements for 3.5 million tonnes per annum with US based Sabine Pass Liquefaction Company that would start in 2017-2018. The Company has also signed long term deal with Gazprom for 2.5 million tonnes a year from 2018-2019.