GAIL (India) Ltd Secures Oman LNG Cargo to Meet Gas Demand
India’s state-run gas company GAIL (India) Ltd has purchased a liquefied natural gas (LNG) cargo from Oman LNG LLC as the country moves to address rising natural gas demand, according to trade sources. The cargo was reportedly bought from a European trader through negotiations at a fixed price between $17 and $20 per million British thermal units.
The shipment is being transported on the vessel Orion Hugo, which is chartered by Shell PLC, and is expected to arrive in India around March 15. The purchase comes as India seeks to maintain stable gas supplies amid disruptions in regional energy flows.
India currently imports around half of its daily natural gas requirement of about 195 million standard cubic metres per day (mmscmd). The country had been receiving roughly 60 mmscmd of gas from the Middle East, but supply has been affected following the closure of the Strait of Hormuz and force majeure declared by its largest supplier, QatarEnergy. Authorities are now redirecting gas from non-priority sectors to critical users to manage the shortfall.
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