Gail to Sell LNG on FOB Basis

India’s state-owned gas utility Gail is offering up to 1 million mt/year of its contracted US LNG through its subsidiary Gail Global Singapore to buyers on an FOB basis, a source from Gail Global Singapore said Wednesday.

The LNG will be sold on an FOB basis and deliveries will likely begin in 2018, the source said, adding that the volumes would come mainly from the Sabine Pass project, although Gail was flexible about the loading terminal depending on the requirements of the buyer.

Interested parties need to submit a confidentiality agreement by May 19, a statement released by Gail Global Singapore last week said.

Gail Global Singapore, a wholly owned subsidiary of Gail India Ltd., planned to finalize the deal within two months from May 19, the source added.

The offer comes following remarks made last September by Gail’s Chairman B C Tripathi, that the utility would trade 1 million mt/year of US LNG from its Singapore offices, and import the remaining volumes into India.

Gail has offtake deals with Cheniere Energy and Dominion Cove Point for a total 5.8 million mt/year of LNG on an FOB basis from the Sabine Pass and Cove Point liquefaction terminals. The deals are for 20 years.

“With 5.8 million mt/year of portfolio … any one would and should do geographical diversification,” the source said.

Press Release, May 7, 2014

Share this article

Follow LNG World News

One thought on “Gail to Sell LNG on FOB Basis”

Comments are closed.

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >