GAIL Eyes More US LNG

GAIL (India) has plans to sign more deals to buy LNG from US as it hopes to lock-in customers for existing contracts by the end of July, reports news agency Reuters.

"Sometime by the end of July we hope to sign deals for 3.5-4 mtpa of U.S. LNG volumes...we are selling largely to city gas distribution companies, steel, textile and ceramics as well as refineries," GAIL Chairman B. C. Tripathi said, reports the news agency.

The company already has supply deal with U.S.-based Cheniere Energy to buy 3.5 million tonnes per annum (mtpa) of LNG for 20 years and has booked capacity for another 2.3 mtpa at Dominion Energy's Cove Point liquefaction plant.

Also, GAIL aims to trade 1 mtpa of LNG sourced from the U.S. through its trading arm in Singapore.