GAIL Seeking to Renew LNG Deal with Iran

India’s gas utility company GAIL is seeking to revive an LNG deal with Iran dating back from 2005 as steps on lifting of sanctions against Iran gain momentum.

The agreement relates to a $ 22-billion LNG supply contract signed with National Iranian Gas Export Company (NIGEC) for the purchase of 5 million tonnes a year of LNG at a $3.215 per million British thermal unit.

“Dialogue has been initiated with Iranian counterparts to revive the LNG supply longterm SPA,” the Economic Times writes citing GAIL’s business results.

As informed, Iran has not yet officially responded to GAIL’s approaches and would need to first complete its LNG terminal under development at Tombak Port, before it moves ahead with the deal.

The Bombay Stock Exchange informed today that it has also sought clarification from Gail (India) Ltd with respect to the talks and said it was still waiting a reply.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Bringing together the key LNG buyers and sellers from across the globe, the Summit provides…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >