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.

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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.

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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.

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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.

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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.

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