SCI and Gail set for LNG cooperation

Shipping Corporation of India (SCI) and Gail India Limited are in talks regarding the acquisition and operation of LNG carriers, a senior SCI official said. Sarveen Narula, Director of Line and Passenger Services at SCI said that Gail would pay in the region of US$ 3 billion for the acquisition and that SCI would run the nine LNG carriers.

The shipper could acquire up to a 25% stake once a joint venture company has been established, Mr Narula said, and a Memorandum of Understanding (MoU) was close to being signed. Discussions were being brokered through the government.

Edited from various sources by Ted Monroe

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