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Money News

Gail India issues tender to buy and sell LNG cargoes - sources

FILE PHOTO: 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/File photo

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

It offered two cargoes to load from the Cove Point plant in the United States on a free-on-board (FOB) basis over Jan. 4 to 6 and Feb. 11 to 13, they said.

It is also seeking two cargoes for delivery into Dabhol in India over Jan. 7 to 15 and over Feb. 4 to 10 on a delivered ex-ship (DES) basis, they added.

The tender closes on Nov. 5.

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 Muralikumar Anantharaman

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