India's GAIL to buy 19 LNG cargoes by March-chairman

Reuters

NEW DELHI, Oct 25 (Reuters) - State-run gas utility GAILIndia Ltd plans to buy 19 cargoes of liquefied naturalgas (LNG) by March, out of which 9 will be bought from the spotmarket, its chairman said on Friday.

The company sells 6.5 million tonnes per annum (mtpa) of LNGlocally, sourced from Qatar's Rasgas under a long-term contractand through small deals with GDF Suez and Spain's GasNatural Fenosa.

B.C. Tripathi told reporters GAIL is also looking for "good"shale gas assets in the United States.

LNG is expensive in Asia at about $17 per millionBritish thermal units (mBtu), as it is linked to oil, while aboom in U.S. shale gas output has pushed down prices there to below $4 per mmBtu.

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