Gail India Seeks to Shed 24 U.S. LNG Cargoes
Posted by Joseph Keefe
Tuesday, January 23, 2018
Gail India launches tender to sell 24 liquefied natural gas (LNG) cargoes from the Cove Point export facility in the United States in 2019-2020, according to trade sources.
The tender is split into three tranches, with the first tranche offering six cargoes in the first half of 2019, six in H2 2019, and 12 in 2020, traders said . Prospective buyers must bid for all the cargoes in any given tranche. Gail purchased 2.3 million tonnes annually from Dominion Energy's Cove Point export plant, with an added 3.5 million tonnes annually due from Cheniere Energy's Sabine Pass facility in Louisiana. Gail has already struck various swap and sales deals with Royal Dutch Shell and trader Gunvor, among others, to reduce its near-term supply obligations from Sabine Pass.
Reporting by Oleg Vukmanovic