GAIL (India) Ltd, the shareholder in Petronet LNG and the operator of the Dabhol import terminal in the West Coast state of Maharashtra, signed a long-term supply deal with global commodities firm Vitol.
GAIL India Ltd., the state-owned LNG importer and natural gas pipeline grid and city-gas operator, reported a halving of net profits for the fiscal year as Russian LNG supplies resumed and it considered taking a stake in a US export project.
Petronet LNG, the owner of the largest Indian import terminal at Dahej north of Mumbai, has outlined details about import expansion plans, target prices for spot cargoes, advances in small-scale LNG and blending LNG with domestic gas to cut costs for city-gas distributors.
Indian Prime Minister Narendra Modi will formally open the long-awaited 450-kilometres natural gas pipeline from the Kochi LNG import terminal in the southwest state of Kerala to the port city of Mangaluru in the state of Karnataka further north.
The Indian government will consider a proposal this month to spin off the natural gas pipeline business owned by state-run Gas Authority of India to give more momentum to the expansion of a city-gas network and connections to existing and planned LNG import terminals.