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GAIL India in talks with Iran to revive decade-old LNG supply deal

24 Aug 2015 Evaluate

GAIL India is in talks with Iran to revive a decade-old $22-billion LNG supply contract, the cheapest deal ever struck by an Indian firm.

Earlier on June 13, 2005, State-run gas utility had signed a Sale and Purchase Agreement (SPA) with National Iranian Gas Export Company (NIGEC) for buying 5 million tonnes a year of LNG on a long-term contract at a very attractive price of $3.215 per million British thermal unit. But Tehran never honoured the deal.

GAIL is India’s flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.

GAIL India Share Price

166.50 -0.95 (-0.57%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
GAIL India 166.50
Gujarat Gas 396.55
Indraprastha Gas 166.25
Mahanagar Gas 1171.95
Adani Total Gas 633.70
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