GAIL (India) has allocated one MMTPA of LNG volume sourced from the United States to its subsidiary GAIL Global (Singapore) (GGSPL) for trading in the global market. This experience of global trading would help to develop requisite skill sets and competence within the company and thereby expand the business in the global LNG market in a self-sustaining manner. GAIL opened its Singapore office in 2011 through GGSPL for sourcing Natural Gas and for trading in LNG and petrochemicals, etc.
Besides, the company plans to venture into LNG shipping to bring LNG volume from the US, doubling the capacity of Dabhol LNG terminal, upstream investment in Tanzania and setting up floating LNG re-gasification terminal in Andhra Pradesh along with GDF Suez and Shell.
GAIL was the first Asian company to have signed a long term LNG sales and purchase agreement with Sabine Pass Liquefaction, LLC, USA in 2011 for supply of 3.5 MTPA LNG over 20 years. This agreement had price linkage with Henry-Hub price instead of Crude oil and signaled a new approach in gas pricing.
Besides, the company plans to venture into LNG shipping to bring LNG volume from the US, doubling the capacity of Dabhol LNG terminal, upstream investment in Tanzania and setting up floating LNG re-gasification terminal in Andhra Pradesh along with GDF Suez and Shell.
GAIL was the first Asian company to have signed a long term LNG sales and purchase agreement with Sabine Pass Liquefaction, LLC, USA in 2011 for supply of 3.5 MTPA LNG over 20 years. This agreement had price linkage with Henry-Hub price instead of Crude oil and signaled a new approach in gas pricing.
No comments:
Post a Comment