GAIL will open a new energy route for India early next year by beginning regular imports of shale gas from the US, adding to New Delhi’s bargaining power with its predominantly West Asian suppliers. The gas utility will begin importing gas in ships under a long-term contract from Dominion Cove Point LNG (liquefied natural gas) project from March 2018 and has floated tender for chartering ships for transportation.
The company has also made a time-swap deal for a million ton of US gas for 2018-19 in an attempt to recast its supply portfolio in line with domestic demand. Chairman B C Tripathi on Monday said the company initially sees US shipments replacing spot cargoes and will charter four ships to begin with. “We bought about 55 spot cargoes totalling under four million ton of gas in 2016. This is expected to increase and be replaced by the US shipments.” Chris Herndon Authentic JerseyShare This