Report: GAIL signs LNG swap deal with Gunvor

Report: GAIL signs LNG swap deal with Gunvor
Image courtesy of Cheniere

India’s gas utility GAIL has reportedly signed a time-swap deal with Swiss trading giant Gunvor that includes its U.S. LNG volumes. 

It was GAIL’s first such deal, as the company is looking to ease the pressure of the more expensive foreign LNG supplies.

Under the agreement, Gunvor will deliver 15 LNG cargoes to GAIL in the period between April and December this year, Reuters reports, citing sources.

The volumes of 0.8 million tons of LNG, which is equal to 5 percent India’s 2015/2016 imports.

In return, GAIL agreed to deliver 10 cargoes from Cheniere’s Sabine Pass LNG in 2018 to Gunvor on a free-on-board basis. In 2011. GAIL agreed to buy up to 3.5 million ton per year from Sabine Pass LNG export project for a period of 20 years.

In addition to the 0.6 million tons, GAIL will deliver to Gunvor under the agreement, the company is looking to sell additional volumes from its U.S. portfolio.


LNG World News Staff

Share this article

Follow LNG World News


<< Feb 2019 >>
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 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >


LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >