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GAIL hires LNG ship from Mitsui OSK Lines

24 Jul 2019

GAIL India has hired a newly-built LNG ship from Japan's Mitsui OSK Lines for ferrying gas from nations such as the US for three years beginning 2021, and plans to charter hire additional vessels. The company has contracted long-term LNG from the USA (5.8 million tonnes per annum) and Russia (2.5 million tonnes) and is now actively trading the gas in international market.

The company in 2017 chartered hired the vessel Meridian Spirit from Total for three years, extendable by one year, to transport the LNG sourced from the USA. It also hired two vessels - Cadiz Knuten and CLean Horizon - in 2018 for shorter periods to meet its shipping requirements.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

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GAIL India Share Price

152.00 3.80 (2.56%) Oct 26, 18:01
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