GAIL in talks to import 5 m tonnes of LNG

GAIL (India) Ltd is in talks with Algeria and Nigeria for sourcing five million tonnes of liquefied natural gas (LNG) on a long-term basis from 2009.

"The talks are at an advance stage for getting LNG on the long-term basis," a senior GAIL official said here today.

He said the company was looking to source equal amounts of 2.5 million tonnes from both countries. "In Algeria, the company is negotiating with Sonatrach, while in Nigeria, it is talking to a government firm," he said. According to sources, GAIL is scouting LNG suppliers from at least six countries.

Earlier this year, GAIL had contracted a spot cargo of 135,000 cubic meter of LNG from Algeria at an ex-shipment price of $9.28 per million British thermal unit (mBtu).

Source: The Tribune, New Delhi
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