Report: GAIL bins LNG newbuilds tender again

Report: GAIL bins LNG newbuilds tender again

India’s gas utility GAIL has reportedly once again canceled its multi-billion dollar tender seeking to hire nine LNG newbuilds to transport US liquefied natural gas to India starting in 2017.

According to a report by India’s Financial Express, GAIL has canceled its tender as strict propositions seeking a number of LNG vessels to be built by domestic shipyards have been a major stumbling stone in a two-year bidding process.

GAIL will now be looking to charter LNG carriers on short-term deals to meet the target of starting the import of US LNG cargoes in 2017. In addition, the company plans to make a new proposal to hire newbuilds, the report claims.

GAIL is yet to respond to an email sent by LNG World News seeking clarification on the matter.

The tender has already been canceled once and delayed several times after it was refloated in September 2015, with the latest date set for bid submissions being March 31, 2016.

Under the original tender, nine vessels, three of which had to be built by shipyards in India, were expected to be delivered by 2019, for foreign shipyards and 2023, for Indian shipyards.

It was reported in April that two Japanese consortia, one comprising Mitsui OSK Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui & Co and the other comprising Mitsubishi Corporation, Kawasaki Kisen Kaisha and GasLog, have placed their bids for the tender before it closed on March 31.

An Indian consortium formed by the Cochin Shipyard and Global United Shipping India has also put in a late bid to participate in the tender.


LNG World News Staff

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Posted on November 4, 2016 with tags .


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