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GAIL issues swap tender to buy and sell LNG over Aug-Dec

The state-run natural gas firm has offered to swap a cargo a month over the period in a tender closing on July 26

Four of the cargoes are for loading from the Cove Point plant in the United States (Source: Reuters) Four of the cargoes are for loading from the Cove Point plant in the United States (Source: Reuters)

GAIL (India) Ltd has issued a swap tender offering liquefied natural gas (LNG) cargoes for loading in the United States and seeking cargoes for delivery into India over August to December, three industry sources said on Wednesday.

The state-run natural gas firm has offered to swap a cargo a month over the period in a tender closing on July 26, the sources added.

Four of the cargoes are for loading from the Cove Point plant in the United States while one is for loading from Sabine Pass export terminal, one of the sources said.

As for delivery into India, three cargoes are to be delivered into the Dabhol terminal while one will be delivered into Dahej and another into Hazira, the source added.

The Indian importer has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG, split between Dominion Energy's Cove Point plant and Cheniere Energy's Sabine Pass site in Louisiana.

GAIL has a separate tender seeking a LNG cargo for delivery into Dahej over Aug. 9 to 13, the sources said, adding that the tender closes on July 22.

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