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GAIL India offers up to 10 LNG cargoes for loading from U.S. – sources

Friday, 06 December 2019 | 00:00

GAIL (India) has offered up to 10 liquefied natural gas (LNG) cargoes for loading in the United States over early 2020 to early 2021, two industry sources said on Thursday.

The cargoes are being offered through its Singapore subsidiary on a free-on-board (FOB) basis from the Sabine Pass and Cove Point LNG plants and will be priced on a Henry Hub basis, one of the sources said.

GAIL Global (Singapore) has offered three cargoes for loading from the Sabine Pass plant over March 28-30, June 10-12 and Oct. 28-30, the source added.

It has also offered seven cargoes for loading from the Cove Point plant, with four of them loading next year over April 25-27, July 27-29, Aug. 27-29 and Dec. 11-20, the source said.

The other three cargoes will load in 2021 over Jan. 21-30, Feb. 11-20 and Feb. 21-28.

Bids are due by early next week, a second source said.

Companies typically do not comment on their tenders or cargo offers.

The Indian importer 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 facility in Louisiana.

Gail’s managing director said earlier this year that the company sends most of its U.S. LNG supplies back to India and sells the rest into the spot market. All the LNG will eventually be shipped to India when more gas pipelines and regasification terminals are completed, Shri B.C. Tripathi said in March.
Source: Reuters (Reporting by Jessica Jaganathan in Singapore and Ekaterina Kravtsova in London; Editing by Richard Pullin)

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