GAIL (India) Ltd Issues Swap Tender for LNG Cargoes
GAIL (India) Ltd, the country’s largest gas distributor, has floated a swap tender offering 12 liquefied natural gas (LNG) cargoes for loading in the United States in exchange for 12 cargoes to be delivered to India in 2026, according to industry sources. The tender, which was issued on Tuesday, is part of the company’s strategic efforts to optimize its LNG portfolio.
The cargoes offered by GAIL are slated for monthly loading from the Sabine Pass terminal in the United States on a free-on-board (FOB) basis. In return, the company seeks deliveries on a delivered ex-ship (DES) basis to the Dhamra terminal in India within the same timeframe. The Dhamra terminal is a critical hub for the country’s LNG imports and distribution network.
This swap arrangement is expected to help GAIL better manage transportation costs and supply reliability for its Indian operations. The tender is set to close on February 19, giving potential participants limited time to respond to the offer.
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