First crude oil, now gas: India starts importing LNG from US
Commodity Alert: First crude oil, now gas: India starts importing LNG from US
After crude oil, India today began importing natural gas from the US, with the first shipment of LNG under a 20-year deal being flagged off from Louisiana. State-owned gas utility GAIL India has contracted 3.5 million tonnes per annum of liquefied natural gas (LNG) from Cheniere Energy’s Sabine Pass liquefaction facility in Louisiana. “The cargo has been loaded on-board GAIL’s first chartered LNG ship ‘Meridian Spirit’. GAIL is India’s biggest natural gas transportation and marketing company. It is expanding pipeline network by 4,000 km at an investment of over USD 3 billion to operate over 15,000 km by 2020. GAIL commands 75 per cent market share in gas transmission and has a gas trading share of over 50 per cent in India.
Source: Financial express