Gail Looks to Diversify LNG Supply Source, Eyes East Africa

Gail India is looking to East Africa for LNG in order to diversify its supply source, reports Press Trust of India.

"We are trying to spread our portfolio of LNG supplies geographically and indices wise (and) we are looking at the East African suppliers,” company's Marketing Director Prabhat Singh said while addressing the LNG Supplies for Asian Markets 2014 conference in Singapore on Wednesday.

Singh said price sought for new supplies would be around $12 per Mmbtu.

"At this point in time, a price of $12 per mmbtu would be good for India," said Singh, who told the conference that LNG price was a major issue for the Indian market, reports Press Trust.

Gail currently gets 7.5 mtpa from the Middle East suppliers. The company has inked supply deals with Gazprom and will also get LNG from Australia's Gorgon project, which is expected to start in 2015.

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