January 16, 2018 / 10:28 AM / 4 months ago

BRIEF-GAIL (India) and Gazprom Re-Negotiate Long-Term LNG Sale And Purchase Agreement

Jan 16 (Reuters) - Gail (India) Ltd:

* SAYS GAIL, GAZPROM HAS RE-NEGOTIATED LONG-TERM LNG SALE AND PURCHASE AGREEMENT (SPA) ORIGINALLY SIGNED IN 2012

* SAYS TWO PARTIES HAVE AGREED TO AN ADJUSTMENT TO PRICE AND VOLUME OF LNG SUPPLY Source text - GAIL and Gazprom have strengthened their partnership further by successfully re-negotiating the long-term LNG Sale and Purchase Agreement (SPA) originally signed in the year 2012. An amendment to this effect was signed today in New Delhi between Mr Gajendra Singh, Director (Marketing) GAIL (India) Limited and Mr. Vitaly Vasiliev, CEO Gazprom Marketing & Trading Limited. A long-term LNG Sale & Purchase Agreement building up to 2.5 MMTPA of LNG on DES (Discharge-ex-Ship) basis was executed by GAIL with Gazprom Marketing & Trading Singapore (GMTS) in the year 2012, the supplies under which are scheduled to start in Q2 2018. The two parties have agreed to an adjustment to the price and volume of LNG supply thus enabling GAIL to develop incremental gas markets to offtake these volumes thereby mitigating volume risk. Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below