July 17, 2020 / 7:32 AM / a month ago

Gail India issues swap tender to buy and sell LNG in 2022 - sources

Birds fly past the logo of India's state-owned natural gas utility GAIL (India) Ltd installed on its corporate office building in New Delhi, India, April 26, 2018. REUTERS/Adnan Abidi/Files

SINGAPORE (Reuters) - Gail (India) has issued a swap tender offering liquefied natural gas (LNG) cargoes for loading in the United States and seeking cargoes for delivery into India, in 2022, two industry sources said on Friday.

It has offered to swap one cargo a month in 2022 in a tender that closes on July 27, they said.

The cargoes it is offering will load from the Sabine Pass plant on a free-on-board (FOB) basis and the cargoes it is seeking will be delivered into India on a delivered ex-ship (DES) basis.

The Indian importer has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG, split between Dominion Energy’s Cove Point plant and Cheniere Energy’s Sabine Pass site in Louisiana.

Reporting by Jessica Jaganathan; Editing by Himani Sarkar

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