Gazprom Marketing and Trading Singapore GAIL to buy LNG from Gazprom

Gazprom Marketing and Trading Singapore

GAIL to buy LNG from Gazprom

GAIL (India), announced that it had signed a legally binding 20-year liquefied natural gas (LNG) sales and purchase agreement (SPA) with Gazprom Marketing and Trading Singapore (GM&TS), a wholly-owned subsidiary of Gazprom Marketing & Trading.

Under the agreement, GAIL will receive 2.5 million tonnes of LNG annually (equivalent to about 130 million British thermal unit or 3.5 billion cubic metres or 122 billion cubic feet annually) over 20 years beginning 2018-19. LNG will come from the Gazprom's Shtokman production facility, which has 130 trillion cubic feet of in-place reserves.


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