Gazprom, GAIL Sign LNG Deal

Gazprom Marketing & Trading has signed a 20 year LNG sales and purchase agreement (SPA) with India’s GAIL Limited.  

Under the terms of the agreement, GAIL will receive 2.5 million tonnes per annum of LNG over a period of 20 years, a statement on Gazprom’s website said. The LNG will be sustainably priced with an oil-indexed formula and delivered to Dahej, Dabhol and Kochi terminals in India.

B. C. Tripathi, Chairman & Managing Director, GAIL said that the deal reinforces company’s commitment to facilitate the development of the Indian market for which $6 billion in investments are being made by in creating natural gas infrastructure.