India’s GAIL purchases two spot LNG cargoes

GAIL of India has reportedly bought two spot liquefied natural gas cargoes from UK-based LNG player BG Group and Qatar.

According to a report by Reuters, BG will supply a cargo of LNG for delivery in February, while Qatar’s cargo is for March.

The February cargo was sold for around US$5/MMBtu, while the March cargo was mid $4s, the report said.

Worth mentioning, GAIL has recently again postponed its tender re-floated in September, seeking bids to hire LNG newbuilds in order to ship U.S. LNG starting in 2017.

GAIL is looking for 9 LNG ships of a cargo capacity of 150,000-180,000 cbm, enabling it to comply with its off-take commitments at Sabine Pass and Cove Point LNG projects from December 2017.

 

LNG World News Staff

 

 

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Posted on February 1, 2016 with tags .

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