MOL, Gail Sign LNG Charter Agreement

Japan’s Mitsui OSK Line (MOL) has signed a short-term LNG carrier charter agreement with India’s biggest gas marketing firm Gail, it said June 20.

Gail holds a portfolio of about 14mn metric tons/year of LNG from various long and short-term contracts. In addition to its main supplier, Qatar’s RasGas, Gail also has long-term contracts with Gazprom and ExxonMobil (Gorgon LNG). The company also two US LNG contracts: one is with Cheniere and one with Dominion. Both are indexed to the most liquid US gas hub, the Henry Hub.  

MOL said it has been participating in the Indian market since the beginning of LNG import into the country, having brought the first gas from Qatar. MOL is participating in not only transportation of LNG but also the projects in India of floating LNG receiving terminal and ethane transportation by the world's first very large ethane carrier.