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Gail India and GDF Suez sign LNG supply deal

LNG Industry,

GAIL (India) Ltd. and GDF SUEZ have concluded a medium term LNG agreement for the supply of 12 cargos by GDF SUEZ from 2013 to 2014, representing a total of 0.8 million t.

This agreement will contribute to supply the Indian gas market, which is expected to grow from 58 billion m3 in 2012 to 110 billion m3 in 2020, representing a growth of 87%.

Speaking on the occasion, Mr. B C Tripathi, Chairman and Managing Director, GAIL (India) Limited said, “This agreement with GDF SUEZ is yet another step by GAIL to bridge the demand supply deficit of the Indian market in the medium term. This is in addition to other initiatives of GAIL towards LNG sourcing, creating LNG regasification infrastructure and augmenting transmission capacity significantly during the next two to three years. With this step, we look forward to strengthen our partnership with GDF SUEZ in the future. GAIL will continue to make assiduous efforts to tie-up affordable LNG in its portfolio to meet the rapidly growing energy demand of the Indian market.”

Adapted form press release by Peter Farrell.

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