GAIL Mulls Balancing Gas Import Portfolio

Indian state owned firm GAIL is looking at balancing its portfolio of gas importing contracts, executive director Rajeev Mathur said.

Addressing the Gas Asia Summit, Mathur said "we are seeing a trend where various options are being considered". GAIL, one of the leading gas importers in India, has a portfolio of long-term, short-term and spot contracts, the Economic Times reported.

Speaking to reporters, Mathur said emphasis was on affordable contracts from global suppliers, including the United States.

GAIL, which is looking at acquiring shale gas assets in the US, is also considering other opportunities in unconventional resources. Mathur pointed out that 1,785 trillion cubic feet of shale gas resources were in Asia out of the 6,622 trillion cu ft of global reserves.

He said the Turkmenistan gas pipeline was on track for supplying gas to South Asia, India being the big market. The Turkmenistan pipeline via Afghanistan and Pakistan to India is expected to supply gas by 2018.