Gas buyer Gail (India) has gone out to tender to buy a stake of up to 26% in a US LNG project, bundling the offer with a 15-year import deal, as New Delhi seeks to negotiate a broader agreement with Washington following President Donald Trump’s newly imposed tariffs.
Gail issued a tender on Friday asking for offers on a stake in a project that would be commissioned by 2030 at the latest.
The company also wants to buy 1 mpta of LNG from a US liquefaction plant on a free-on-board basis over a firm 15-year period with the option to extend this by five or 10 years.
It is eyeing shipments to start in the 2029 to 2030 period.
The Indian company is seeking initial bids by 28 April.
The tender is a revival of a similar process kicked off by Gail during the Biden administration in the US.
But this was later stalled when then-president Joe Biden put a freeze on new LNG export permits for projects at the start of 2024.
India is the world fourth fourth-largest buyer of LNG, with Qatar currently its largest supplier.
Gail has existing contracts to buy 15.5 mtpa and has chartered in six LNG carriers under long-term contracts.(Copyright)
