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Russia's Gazprom sees new LNG deal with India's Gail in six months
October 15, 2016 / 12:42 PM / in a year

Russia's Gazprom sees new LNG deal with India's Gail in six months

GOA, India (Reuters) - Russia’s Gazprom (GAZP.MM) CEO Alexei Miller said on Saturday he hoped to renegotiate a deal to supply liquefied natural gas to India’s Gail (India) Ltd (GAIL.NS) within the next six months.

A general view shows the headquarters of Gazprom in Moscow, Russia, June 30, 2016. REUTERS/Maxim Shemetov/File Photo

“We will make a decision in the near future, in the course of six months,” Miller said.

    The two companies are discussing a change to the period in which Gail has to increase its off-take to 2.5 million tonnes of LNG per a year, as agreed under a previous contract, Miller told reporters.

    When asked if the volume of 2.5 million tonnes a year would remain unchanged, he said: “Yes.”

    Reporting by Denis Pinchuk; Writing by Jack Stubbs; Editing by Jeremy Gaunt

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