India's GAIL eyes 1 mtpa US LNG sales through Singapore trade unit

Reuters

NEW DELHI, Nov 20 (Reuters) - State-run GAIL (India) Ltd plans to sell 1 million tonnes of liquefied naturalgas (LNG) per year sourced from the United States through itsSingapore-based trading arm, the company said in a statement onWednesday.

The gas utility is also keen to acquire upstream assets inTanzania and plans to set up floating LNG re-gasificationterminal in southern Indian state of Andhra Pradesh along withGDF Suez and Shell, Chairman B.C. Tripathi said in thestatement.

GAIL already has a deal to buy 3.5 million tonnes peryear(mtpa) of LNG on a free-on-board (FOB) basis for 20 yearsfrom U.S.-based Cheniere Energy from 2017.

It has also booked capacity to export another 2.3 mtpa atU.S.-based Dominion Energy's Cove Point liquefaction plantfrom 2017.

Besides, it has a 20-year deal with Russia's Gazprom to buy 2.5 million tonnes of LNG annually.

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