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GAIL India issues swap tender for four cargoes

GAIL (India) Ltd has issued a swap tender offering two liquefied natural gas (LNG) cargoes for loading in the United States in exchange for two other cargoes for delivery into India, two industry sources said on Thursday.

India’s largest gas distributor is offering two cargoes for loading from the Sabine Pass terminal from Dec. 27 to Jan. 11-20. It is seeking two cargoes for delivery into India’s Dabhol terminal, the first between Nov. 25 and Dec. 15, and the second from Jan 1-10.

The tender closes on Thursday, Oct. 20.

The firm has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG split between Dominion Energy’s Cove Point plant and Cheniere Energy’s Sabine Pass site in Louisiana.
Source: Reuters (Reporting by Marwa Rashad in London and Emily Chow in Singapore; Editing by Shailesh Kuber)

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