GAIL has signed a Memorandum of Understanding (MoU) with Chubu Electric Power, Japan (Chubu) on March 21, 2014. Under the MoU, GAIL and Chubu shall mainly explore possibilities for collaboration in the area of joint LNG procurement. Besides, the two companies will also seek to collaborate on shipping optimization. This MoU with Chubu is yet another effort by GAIL towards bridging the gap in demand supply of natural gas in the Indian market.
GAIL is also actively working towards establishing a regional gas trading hub for Asia as well as an Asian gas index. This MoU with Chubu is yet another effort by GAIL towards bridging the gap in demand supply of natural gas in the Indian market. This is in addition to other initiatives of GAIL towards LNG sourcing, creating LNG regasification infrastructure, reserving liquefaction tolling capacity in overseas projects and augmenting transmission capacity significantly over the next few years.
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.
