GAIL India issues swap tender for LNG cargo -sources

GAIL (India) Ltd GAIL.NS has issued a swap tender offering one liquefied natural gas (LNG) cargo for loading in the United States in exchange for another cargo for delivery to India, said two industry sources on Wednesday.

India’s largest gas distributor is offering the cargo for loading from May 21-23 from Cove Point, Maryland, on a free-on-board (FOB) basis.

It is seeking a cargo for delivery to India’s Dahej terminal for 27-31 May on a delivered ex-ship (DES) basis.

The tender closes on March 9, said the sources.

GAIL has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG, split between Dominion Energy’s D.N Cove Point plant and Cheniere Energy’s LNG.AS Sabine Pass site in Louisiana.
Source: Reuters (Reporting by Emily Chow; editing by Jason Neely)