India’s Gail buys 2 LNG cargoes

India’s gas utility Gail has reportedly bought two cargoes of liquefied natural gas (LNG) for delivery in April.

The company likely paid premiums of about $8.50 to $8.70 per million British thermal units (mmBtu) for the two cargoes bought via a tender, Reuters reported on Tuesday citing traders.

The cargoes will be delivered over April 1-7 and April 8-17 to the Dahej or Dabhol terminals, according to the report.

Worth mentioning, US LNG export player Cheniere and Gail marked earlier this month the start of their 20-year sale and purchase agreement.

Under the deal, Cheniere will sell to Gail about 3.5 million tonnes of LNG per year from the Sabine Pass liquefaction and export facility in Louisiana.

LNG World News Staff