State-run gas company GAIL is just steps away from signing a 20-year contract for shipping two million tonnes of LNG a year from US east coast, The Times of India said, citing sources close to the development.
Value of this contract would be approximately $12 billion.
GAIL executives were in the US last week in order to give final touches to the deal, the newspaper said.
In December 2011, GAIL inked a $20 billion contract with Sabine Pass Liquefaction for 3.5 million tonnes of LNG annually.
LNG World News Staff, July 10, 2012