Japan’s shipping giant Mitsui O.S.K. Lines (MOL) has signed a short-term charter agreement for a liquefied natural gas (LNG) carrier with state-run gas company GAIL India.
MOL said on Thursday that the deal with GAIL was signed through one of its units.
GAIL is the largest natural gas company in India with around 11,400 kilometers of existing trunk pipeline network and another 4,000 kilometers of pipelines in advance stage of completion.
The Indian firm extended its presence in the LNG re-gasification, city gas distribution, and exploration & production. The company currently holds an LNG/RLNG portfolio of about 14 mtpa from various long and short-term contracts. GAIL is also committed to LNG trading globally.
It is worth noting that MOL expects that demand for gas will be increasing continuously in India, registering significant economic growth.
MOL has been participating in the Indian market since the beginning of LNG import into the country, with the distinction of having brought the first gas from Qatar.
The company is currently participating in not only transportation of LNG but also FLNG projects in India and ethane transportation by the first very large ethane carrier (VLEC) in the world.