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Commodities

Gail India sells U.S. LNG cargo loading from Cove Point in May: sources

FILE PHOTO: Birds fly past the logo of India's state-owned natural gas utility GAIL (India) Ltd installed on its corporate office building in New Delhi, India, April 26, 2018. REUTERS/Adnan Abidi

SINGAPORE (Reuters) - GAIL (India) has sold a liquefied natural gas (LNG) cargo for loading from the Cove Point terminal in Maryland in the United States in May, three industry sources said on Wednesday.

It sold the cargo on a free-on-board (FOB) basis at around $1.50 to $2 per million British thermal units (mmBtu), two of the sources said.

The Indian importer has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG, split between Dominion Energy’s Cove Point plant and Cheniere Energy’s Sabine Pass site in Louisiana.

Reporting by Jessica Jaganathan; editing by Jason Neely

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