Gail to switch LNG purchasing focus
Published by Will Owen,
Editor
LNG Industry,
Reuters is reporting that Indian gas utility Gail has switched its LNG purchasing focus to short-term and spot deals in order to meet rising demand and hedge against price volatility.
This move away from long term deals has arisen as India continues to build infrastructure, including pipelines and import facilities, to raise the share of gas in its energy mix to 15% by 2030 from the current level of approximately 6.5%.
Gail’s chairman, B.C. Tripathi, recently announced: “… the market is moving from long-term (deals) to short term and spot. So we are buying short-term and are also looking at the swap (deals).”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24052018/gail-to-switch-lng-purchasing-focus/
You might also like
Straits Bio-LNG joins SEA-LNG at Singapore Port
Straits Bio-LNG has joined the SEA-LNG coalition, aiming to deliver 250 000 t of bio-LNG per year.