The company reportedly bought the cargo for delivery into Dabhol, India, on a delivered ex-ship (DES) basis for 23 February to 28 February at US$2.40/million Btu – US$2.50/million Btu.
The sources claim that it is likely that this is a new record low price for LNG cargoes delivered into India.
One of the sources added that Gail, in a separate transaction, sold a cargo from the Cove Point facility in the US on a DES basis into Europe for delivery in February to March, and likely did not award another cargo it had offered for loading in April from Cove Point.