GAIL (India) Limited and Vitol Asia Pte. Ltd. on Friday announced the signing of a long term LNG deal for the supply of about one million metric tonne of LNG per annum to India for a period of about 10 years, commencing 2026.
Under this deal, Vitol will deliver LNG from its global portfolio to GAIL in India on a pan-India basis, according to a press statement.
GAIL (Director (Marketing) Sanjay Kumar, speaking on the occasion of signing of the deal in Singapore,said it was in light of consolidation of demand for natural gas in India, and was part of multiple negotiations GAIL was engaged in with various LNG suppliers for long term deals.
Vitol is a leader in the energy sector with a presence across oil, gas, power, renewables and carbon. It has a global LNG portfolio with LNG supply from North America, Africa, Middle East and Asia. In 2022, Vitol physically delivered approximately 14 mtpa of LNG.
